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and pension funds of State employees, teachers and police.
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2
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These funds, which now total approximately $460,000,000.00
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3
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represent contributions from the salaries of dedicated
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4
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State employees, with matching funds from the State, and
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must be held safe and secure. The incumbent Comptroller
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has instituted a diversified program for the investment
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of these funds, in F.H.A. mortgages, ground rents, cor-
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8
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porate bonds, comon stock, et cetera, which investments
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9
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are now yielding 4.3 per cent interest.
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10
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When I became Comptroller, it was a little
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over 2.58 earning. It is important that a person of in-
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dependent judgment be a member of these Retirement Boards
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in order that the Retirement Systems of our State may
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continue to remain in sound financial condition.
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15
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Upon the assumption of office, the incumbent
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Comptroller adopted an "open door" policy with respect to
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17
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financial information. He has kept the public fully
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18
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informed as to the financial affairs of the State. Under
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19
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an appointed Comptroller, it is possible that certain
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20
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financial information could be withheld if such informa-
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21
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tion might be embarrassing to tho Governor. Past experience
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