Letter: Thank you, Dave
To the Editor:
The Ridgefield Pension Commission would like to thank David Campbell for his 39 years on the commission — many of them serving as chairman. While serving on the commission, he was instrumental in growing the town’s pension fund from about $1 million to over $100 million. To achieve such growth, Dave employed three basic principles — make the recommended contributions, invest for the long term, and keep expenses low.
Almost any day you can read about states and cities suffering financially because they did not fund their pension plans adequately in the past. Dave was a strong advocate of having the town put the recommended contribution in the budget each year.
Not all municipalities invested their pension assets with a long-term investment horizon in mind. Dave did. For many years, the assets in the town’s pension fund were invested similarly to those in corporate pension funds. Over time, that resulted in investment returns, rather than taxpayers’ taxes, “paying for” a portion of pension benefits.
To keep expenses low, Dave performed many tasks that would have otherwise required additional help from the town or an outside party. He was also always looking for a “good deal” from vendors and often got them.
Dave, many thanks for the work you have done. The Ridgefield Pension Commission, town employees, and Ridgefield taxpayers all benefited from your dedication, insights and long-term thinking.