MILWAUKEE – County Board Chairwoman Marcelia Nicholson announced Thursday that she has appointed Nicole Best, Chief Financial Officer and Chief Administrative Officer of Heartland Advisors, a local investment company, to the Milwaukee County Pension Board.
In a statement, Chairwoman Nicholson highlighted Best’s qualifications:
“As a CPA and an investment advisor with extensive non-profit board experience, as well as experience auditing pension plans, Nicole is exceptionally well-qualified to serve on the Milwaukee County Pension Board. In addition to her experience, I was also impressed with Nicole’s values, including her commitment to racially equitable financial literacy and to public service,” said Nicholson.
Best replaces outgoing Pension Board Chair Michael Harper. Harper’s status as a member of the Pension Board conflicted with rules prohibiting anyone with a family member who is a pension beneficiary from serving on the Board.
Chairwoman Nicholson thanked Harper for his service.
“I thank Michael Harper for his service as Chair of the Pension Board,” said Nicholson.
The Pension Board consists of ten members: three members appointed by the County Executive, two members appointed by County Board Chairperson, three employee members elected by employee participants, one retiree member elected by retired participants, and one Deputy Sheriff member appointed by the Milwaukee Deputy Sheriffs Association. Terms are for three years.
The Pension Board is responsible for the general administration and proper operation of the retirement system. The Pension Board interprets the system, decides questions of member eligibility, determines the amount, manner, and time of payment of benefits and reasonable administrative expenses, and establishes rules and regulations for the administration of the funds and for the transaction of its business.
The appointment must be approved by the Board of Supervisors.