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The 2014 Pension 40: Ted Wheeler

18
Ted Wheeler
State Treasurer
Oregon
Last year: 20

Before Ted Wheeler, 52, was named Oregon state treasurer in 2010, the six-generation Oregonian had spent much of his career in financial services, including positions at Bank of America Corp. and Portland-based Copper Mountain Trust Corp., and he was well aware of retirement inadequacies. As treasurer, Wheeler, a Portland resident with a BA in economics from Stanford University, an MBA from Columbia University and a master’s in public policy from Harvard University’s John F. Kennedy School of Government, shares fiduciary oversight of Oregon’s $87.9 billion state retirement system and has spearheaded efforts to develop a state retirement plan for those without coverage. “Retirement security has historically been seen as a personal responsibility,” he says. “But the reality is it’s rapidly becoming an issue for policymakers.” In 2013, Wheeler backed a measure to create the Oregon Retirement Savings Task Force. This fall, as chairman of the task force, he presented its recommendations to a joint committee of the legislature and proposed a retirement savings plan for those not currently covered. As Wheeler sees it, such a program would work much like 529 college savings programs: automatic enrollment, escalation, professional management and portability. The legislature will take up the proposal in its next session. “I see states helping to incubate innovative ideas around retirement security that could compel the federal government to take action at the national level,” says Wheeler, who will leave office in 2016.

The 2014 Pension 40

1
2
3
4
5
Bruce Rauner
Illinois
John and
Laura Arnold

Laura and John
Arnold Foundation
Randi Weingarten
American Federation of Teachers
Rahm Emanuel
Chicago
David Boies
Boies, Schiller & Flexner
6
7
8
9
10
Randy DeFrehn
National Coordinating Committee for Multiemployer Plans
Damon Silvers
AFL-CIO
Laurence Fink
BlackRock
Chris Christie
New Jersey
Robin Diamonte
United Technologies Corp.
11
12
13
14
15
Ted Eliopoulos
California Public Employees’ Retirement System
John Kline
Minnesota
J. Mark Iwry
U.S. Treasury Department
Gina Raimondo
Rhode Island
Phyllis Borzi
U.S. Labor Department
16
17
18
19
20
Orrin Hatch
Utah
Abigail Johnson
Fidelity Investments
Ted Wheeler
Oregon
Caitlin Long
Morgan Stanley
James Hoffa
International Brotherhood of Teamsters
21
22
23
24
25
Amy Kessler
Prudential Financial
Alejandro
García Padilla

Puerto Rico
Christopher Klein
U.S. Bankruptcy Court for the Eastern District of Caifornia
Steven Rhodes
Bankruptcy Court for the Eastern District of Michigan
Kevin de León
California
26
27
28
29
30
David Draine
Pew Charitable Trusts
Jordan Marks
National Public Pension Coalition
Sam Liccardo
California
Joshua Rauh
Stanford Graduate School of Business
Karen Ferguson and Karen Friedman
Pension Rights Center
31
32
33
34
35
Timothy Blake
Moody’s Investors Service
Kathleen Kennedy Townsend
Center for Retirement Initiatives, Georgetown University
Edward (Ted) Siedle
Benchmark Financial Services
Daniel Loeb
Third Point
Judy Mares
Employee Benefits Security Administration, U.S. Labor Department
36
37
38
39
40
Andrew Biggs
American Enterprise Institute
Andy Stern
Columbia University
Kenneth Mehlman
KKR & Co.
Teresa Ghilarducci
New School for Social Research
A. Melissa Moye
U.S. Treasury Department


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