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Aguon keeps job as Fund administrator for 90 days
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Posted on Sep 25 2008
Mark Aguon will continue serving as administrator of the NMI Retirement Fund, after the program’s board of trustees extended his contract for 90 days.
Aguon, who was appointed to the job two years ago, was supposed to step down yesterday. But the Fund’s board of trustees approved an extension to prevent a leadership vacuum.
Aguon has re-applied for the position. The only other candidate applying for the job is David Guerrero, who is the son-in-law of Fund chair Juan T. Guerrero.
In an interview, Juan Guerrero said he will not take part in the hiring of a new administrator. True to his word, he stepped out of the conference room as the rest of the members of the Fund board of trustees discussed the hiring issue yesterday.
Guerrero said he is leaving the decision up to the other trustees, so as to avoid any conflict of interest. “And if it becomes necessary—because we’re in a crisis—I will consider talking to my son-in-law to withdraw his application,” he added.
Guerrero noted that each of the two candidates has unique qualifications that could be of benefit to the Fund. Aguon, who has been with the Fund for 12 years, has institutional knowledge. David Guerrero, who has recently moved back to Saipan from the San Francisco Bay Area, brings with him years of experience in investment management.
The Fund board of trustees will interview both candidates on Wednesday, Oct. 1, 2008. Whoever gets selected will receive a maximum salary of $70,000 a year.
