Perry names Richard McElreath of Amarillo new chairman of pension board - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

Perry names Richard McElreath of Amarillo new chairman of pension board

AUSTIN (AP) _ Governor Rick Perry has removed the chairman of the Texas Pension Review Board.

The panel oversees nearly 400 public pension systems that hold 200 billion dollars in assets.

Dallas investor Frederick "Shad'' Rowe says the move was because of his repeated warnings about financially troubled pensions and his criticism of some investment strategies.

Perry spokeswoman Allison Castle says "the governor thinks board leadership should pursue the best interests of the state and not pursue their own personal agenda.''

The Austin American-Statesman reports Rowe is chairman of Greenbrier Partners of Dallas and he's served on the pension review board since 1997.

Perry named has Richard McElreath of Amarillo as new chairman of the pension board.

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