The following statements have been prepared by the candidates running for the Retired Member Representative position on the CalPERS Board of Administration. CalPERS hasn't verified these statements in their entirety and assumes no responsibility for their accuracy.

You may also view these statements, along with general voting instructions and information, in the 2019 CalPERS Board of Administration Public Retired Member Election Candidate Statement Booklet (PDF).

Henry Jones

Henry Jones
Years of CalPERS Covered Service: 37.4
Employer at Retirement: Los Angeles Unified School District
Job Classification at Retirement: Chief Financial Officer

I AM YOUR VOICE and ADVOCATE

As the first Retiree President to lead the CalPERS Board in over 25 years I am here to represent you! I have served on the Board since 2008, representing retirees. I ran for board President this year because the retiree agenda needs to be front and center for CalPERS. I believe we can guarantee the promise of retirement for public employees while investing responsibly.
Since 2008 I have worked to:
Protect retiree and member's defined benefits

  • I have successfully fought against any proposal that would cut defined benefits. 

Expand the value of CalPERS pension fund

  • Since I was elected, our fund has grown from its low of $164 billion at the bottom of the global financial crisis in 2009 to an all-time high of $362 billion with an 8.6 percent return on investments in 2018. 

Ensure solid investment strategies

  • As investment committee chair, I developed many of CalPERS investment principles which were adopted by pension funds around the world.

The only candidate with the comprehensive financial experience we need on the board.
Before joining the CalPERS board, I served as Chief Financial Officer for LA Unified School District administering a $7 billion budget; restoring sound financial conditions following cuts in the 1990's; achieving bond rating upgrades (saving taxpayers $90 million).
I served as:

  • Finance Chair, Association California School Administrators
  • Treasurer, Council Institutional Investors
  • Chair, LA Schools Federal Credit Union
  • CEO, Annuity Reserve Fund (overseeing pensions for 7,000 public employees)

I currently serve as:

  • Personnel Commissioner, LA Community College District
  • Board Member, Pacific Pension Investment Institute

Proudly endorsed by:

  • AFSCME
  • CFT
  • California Professional Firefighters
  • CSEA
  • SEIU
  • Former California Treasurer John Chiang
  • Former Member SPB Maeley Tom
  • CalPERS Board Members:
    • Rob Feckner
    • David Miller
    • Lisa Middleton
    • Mona Pasquil Rogers
    • Ramon Rubalcava
    • Theresa Taylor

http://www.henryforcalpers.com

Henry Jones
Years of CalPERS Covered Service: 37.4
Employer at Retirement: Los Angeles Unified School District
Job Classification at Retirement: Chief Financial Officer

Protecting your healthcare
Protecting retiree healthcare is essential. During my time on the CalPERS Board, we have negotiated healthcare premium cuts while containing increases for hundreds of thousands of members; and, have increased the value of the fund for employers that are prefunding future retiree healthcare, ensuring a more stable and reliable system. I'll always fight to preserve your healthcare!

A proven leader
When I became CFO of LAUSD the district was in crisis. Through hard work and thoughtful planning, we solved the district's financial problems and avoided risky investments that others made throughout California. CalPERS needs experienced leadership to build sustainability for the future and ensure that we're practicing the highest ethical standards to protect the investments of our members.

The only candidate on your side
I've served on the CalPERS Board through good times and bad. Unlike my opponent, I have a record of consistency, responsibility and respect for those around me. My opponent wants you to ignore his very public attempts to destabilize the CalPERS board and his documented harassment of his colleagues. He wants you to ignore his statements to the LA Times where he "doubted" that a placement agent who represented private equity funds and defrauded CalPERS out of millions of dollars "did anything illegal" by using "his influence with the board and senior management to help his clients." Retirees deserve better!

You can count on me
I'm supported by teachers, firefighters, school employees, statewide elected financial officers and others because I stand for the working men and women of California who have made our state what it is today. I will always fight for and listen to you!

Additional Endorsements:

State Treasurer Fiona Ma
Senator Holly Mitchell
LAUSD Board member Jackie Goldberg
Assembly member Warren Furutani (ret.)
Lt.Randy Glymph, LAUSD Police (ret.)

http://www.henryforcalpers.com

Joseph "JJ" Jelincic

Joseph "JJ" Jelincic
Years of CalPERS Covered Service: 38.4
Employer at Retirement: California Public Employees' Retirement System
Job Classification at Retirement: Investment Officer III

The Public Employees' Retirement Fund is a trust created to pay retirement benefits. It is your money.

The Board members are trustees and work for the beneficiaries.

The staff works for the Board to carry out policies adopted by the Board. Those policies should be transparent to the members and operate to the members benefit!

If the Board and the staff cannot tell you what they have done with your money I believe something is wrong.

I want to spend my time fighting for the members.

I am a retired CalPERS Investment Officer. I served on the CalPERS Board for eight years as a member-at-large. I have a BA in economics, an MBA in finance and hold a Chartered Financial Analyst designation. While at CalPERS I worked on stocks, bonds and real estate. I ran the equity desk and created the futures program. I also worked on corporate governance.

I am a past President of CSEA.

The other important role for CalPERS is to provide affordable, quality, accessible healthcare. Healthcare in this country costs too much. As the second largest purchaser of healthcare CalPERS has a real role in bringing down costs. However, that should not be at the cost of giving up quality or accepting a diminished quality of life.

When the staff seeks changes in our health benefits it has focused on the cost to CalPERS. The issue of the quality of care our members receive has taken a back seat. That is just wrong.

CalPERS needs to refocus on the members. The rank and file CalPERS staff is focused on the membership but management has become too top heavy. We need more people dedicated to actually serving members.

I invite you to look at my website: http://www.jjforcalpers.org

I ask for your support and your vote.

Joseph "JJ" Jelincic
Years of CalPERS Covered Service: 38.4
Employer at Retirement: California Public Employees' Retirement System
Job Classification at Retirement: Investment Officer III

I am proud to be endorsed by the retiree groups which are at every CalPERS Board meeting to protect your interests.

  • California State Retirees (CSR)
  • Retired Public Employees Association (RPEA)
  • Retired Public Employees Association (RPEA)

I am proud to be endorsed by these active employee groups, which maintain strong connections with their retirees and are at every Board meeting.

  • Cal Fire Local 2881, IAFF
  • California Association of Highway Patrolman (CAHP)

I am proud to be endorsed by active employee groups who understand that it is about paying your benefits; not fixing the world, including:

  • Southern California Associations of Law Enforcement (SCALE)
  • California Statewide Law Enforcement Association – FOP Lodge #77 (CSLEA)

They support me because we agree the Board should work for you.

I opposed the change to require Medicare and non-Medicare family members to be in the same health plan.

  • I believe in your right to a secret ballot.
  • I believe the Board should monitor something as fundamental as the election process; not just rely on staff.
  • I do not believe we should enter into investment management contracts without knowing what the costs are.
  • I do not support a private equity structure designed to hide cost and investments.

2018 investment returns were a negative 3.5%, not 8.6%. You deserve to know the truth.

Unlike the incumbent:

  • I opposed putting a bar code that identified the specific voter and requiring the voter's signature on the ballot. A procedure I was able to help eliminate.
  • I do not believe management should block Board access to information.
  • I believe in transparency.

It is your money and you deserve to know how it is spent and invested.

This Board should work for you. Allow me to serve you.

Please vote for me.