Alan G. Hevesi was elected New York State Comptroller in 2002. Under his stewardship as sole trustee, the nation's second largest pension fund grew from $95 billion to $119.2 billion, a 29 percent gain, for the fiscal year ended March 31, 2004.
Some of the Comptroller's responsibilities include managing and protecting the state pension fund, auditing the spending practices of all state agencies and local governments, reviewing the New York State and City budgets, reviewing and approving all state contracts, and administering the State Oil Spill Fund.
Before his election as State Comptroller, Hevesi served two terms as New York City Comptroller. Under his stewardship, the city's pension funds grew from $49 billion to nearly $100 billion. Hevesi more than doubled the number of audits conducted by his Office, identifying hundreds of millions of dollars in savings.
Hevesi also spent 22 years in the State Assembly, where he authored 108 laws and established himself as a champion for affordable health care, education reform and the rights of people with disabilities.
Alan Hevesi holds a PH.D in Public Law & Government from Columbia University. He was a professor of political science at Queens College from 1967-1993, and was later an adjunct professor at Columbia University's School of International and Public Affairs and Fordham Law School.
The pension fund during those five months lost 15 billion dollars in value, of which according to the analysis 9 billion was ascribable to the scandals and to WorldCom and to this behavior. So what happened? The Federal Government responded by passing SOX, Sarbanes-Oxley. Tightening regulation, m...(Full transcript available to logged in subscribers.).
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