Retired Educator Named To NM Pension Fund Board

New Mexico – SANTA FE, N.M. (KRWG) Gov. Susana Martinez has named a retired educator from Clovis to the governing board of New Mexico's educational pension fund.

Delman Shirley is a former member of the Educational Retirement Board and worked in the Clovis, Portales, Cimarron and Raton school districts.

Shirley was among two ERB members in 2006 who opposed making $40 million in investments in mortgage-backed securities, which became worthless.

A whistleblower lawsuit contends the investments were made because of a pay-to-play scheme in which political contributions to then Gov. Bill Richardson influenced the awarding of investment business. Richardson and his former appointees dispute the allegations.

The governor announced Shirley's appointment Tuesday. He replaces University of New Mexico professor Gautam Vora.

The board oversees a more than $9 billion pension fund for school workers and college faculty.

Copyright 2011 The Associated Press. KRWG