Three finance experts appointed to retirement board

Three experts on state finance and economy have been appointed to the Arizona State Retirement System Board, a nine-member body that prescribes investment goals and policies for the state’s retirement system.

The nominations of Kevin McCarthy, head of the Arizona Tax Research Association, ASU economist Dennis Hoffman, and former gubernatorial staffer Tom Manos sailed through in the Senate Government Institutions Committee on April 22.

The full Senate will next have to approve their nomination, which is expected to be smooth given the unanimous support they received at the committee level.

Hoffman, director of the Seidman Research Institute, is an expert on monetary economics and business cycles and is one of a few economists whose expertise is regularly sought by policymakers. Hoffman also does general fund revenue forecasting for the state.

McCarthy, ATRA’s long-time president, has considerable knowledge on public finance and taxation. He currently serves on the Property Tax Oversight Commission, Debt Oversight Commission, and Joint Legislative Committee on Property Tax.

Manos was recently Gov. Jan Brewer’s deputy chief of staff for finance. He has also served as Maricopa County’s chief financial officer. He is currently the executive director of Maricopa County Industrial Development Authority.