State Division Candidate (Non-Higher Education; 4-Year Term)

Colorado Department of Labor and Employment

Tim Wonhof is a Program Manager (CES, LAUS, UIRR, Projections) within the Labor Market Information Team (LMI) inside the Division of Labor Standards & Statistics (DLSS) for the Colorado Department of Labor and Employment (CDLE).

Education/Special Courses/Certifications

Bachelor’s Degree, History, Carleton College

Master’s Degree, Financial Economics, Oxford University

Special Courses: Company Directors Course (NFP), Australian Institute of Company Directors

Colorado Real Estate License (FA100094482)

Colorado Mortgage License (MLO0100524812)

Employment History

Program Manager, Colorado Department of Labor and Employment, July 2023-Present

Managing Director, Wonhof & Associates Ltd, March 2019-Present

Commercial Manager/Principal Analyst, Aurizon Holdings Limited, August 2011-February 2019

Associate Director/Economist, Protavia Pty Ltd, November 2006-August 2011

Derivatives Trader, Marquette Partners LLP, September 1994-August 2003

Organizational Affiliations/Achievements

Past President, Denver Association of Business Economists, 2019-Present

Past President, VP, Secretary, Economic Society of Australia, QLD, 2009-2019

Convener, 44th Australian Conference of Economists, 2015

Australian Institute of Company Directors (MAICD), 2014 - 2019

Member, American Economic Association, 2009-Present

Responses

Interest in Serving as a PERA Trustee

Like employment, service is a privilege, not a right. Joining the PERA board will allow me to play an active role in my future security and that of my colleagues; a role for which I am well suited. While I was raised in Colorado, I spent much of my career working abroad. I have witnessed how other societies manage retirement and I appreciate the challenges and opportunities faced by PERA. I have substantial governance experience as a former President of the Economic Society of Australia (QLD) and as the immediate past president of the Denver Association of Business Economists (DABE).

Challenges/Opportunities Facing PERA

When establishing the (First) Bank of the United States, Alexander Hamilton recognized the importance of honoring the country’s financial obligations. The same holds true for individuals, states, and companies. Thanks to sound management and proactive legislative efforts, PERA is on-track to meet its obligations to current PERA members and retirees. Yet, headwinds exist. The most pressing concern lately is the conflicting impact of inflation. While inflationary environments may improve fund performance in the short term, it can undermine the purchasing power of retirees. In addition, inflationary environments increase the nominal cost of finding and retaining talent which translates into increased fund outflows in the long term. Balancing both short and long-term obligations for the fund is both the challenge and the opportunity. Trustees, as crucial points of governance, hold the Managing Director accountable, provide strategic guidance, and ensure that the competing interests of PERA members and retirees remain balanced.

Role of a Trustee

The Trustee uses his/her skills, knowledge, and frameworks to advance the interests of PERA members and retirees. He/she provides a crucial layer of governance over PERA operations, shouldering responsibility for the investment of PERA’s funds, not in terms of daily execution, but rather in terms of direction and method. PERA Trustees must stay informed and operate with integrity, prudence, and transparency to best serve PERA members and retirees.