Board Chairman Juan T. Guerrero yesterday said they decided to cut the administrator’s term from four to two years.
According to Guerrero, the board wants to announce the position every two years to get more qualified candidates.
Under the new guideline, the administrator has to submit or re-apply for the position if he wants to.
“The board wants to evaluate every two years the term and performance of the administrator,” Guerrero said. “The objective is to get more qualified candidates for the job. But this doesn’t mean that the board is discounting the capability of our current administrator. He can re-apply and the board will decide whether to retain him or not,” Guerrero said.
Fund Administrator Mark Aguon’s contract is expiring in September.
Guerrero said a 90-day notice has already been served to the administrator regarding the new policy.
The board, he added, is satisfied with the performance of Aguon.
