James McNamee, IPPFA President, interviews Wheaton Mayor Phil Suess
The video includes questions such as, “Initially, what got you interested in public service—to serve as mayor of a community such as Wheaton?”—James McNamee
Mayor Phil Suess: “I’ve been in Wheaton since 1988. I had no expectations of ever becoming mayor, much less being on the City Council, but when I came to Wheaton, there was a subdivision issue next to my house….It was working through this zoning issue that got me involved in local government in Wheaton.”
James McNamee: “Now you’re involved in a statewide issue. You’re now appointed to the Investment Board and have since been elected as the chair of that very important function, especially for myself. I’m a retired police officer, so it’s very important to me. What motivated you to be wanting to be on that Investment Board?”
Mayor Suess: “I represent the City of Wheaton, and the City of Wheaton has about $125 million invested in the Consolidated Fund. So, I do tend to get involved in things that have an impact on Wheaton. You mentioned the Water Commission. Wheaton is the second largest customer of the Water Commission. I just feel it’s important as the mayor of Wheaton to be involved in things that have a direct impact on Wheaton.
For example, with respect to pensions, pensions are the third largest expense of the City of Wheaton. So, I’m really here in the context of representing Wheaton.
I’ve been involved in the investment consulting industry for over 40 years. That’s been very helpful—yes, we’ll talk about pensions—but, just in the role of mayor. If you’re an investment consultant, you’re dealing with committees; you’re working with people to come to consensus—to build consensus; you’re giving guidance as to how to proceed. All of those things—A. it’s a personal interest; B. it’s important, not only to the City but to our employees.”
Click the video above to see the rest of the interview.
Read More