Iaulualo Faafetai Is New Executive Director of Retirement Fund

The American Samoa Government Employees Retirement Fund has a new Executive Director.

He is Iaulualo Faafetai Talia who was most recently the Vice President of the Development Bank of American Samoa, but has resigned to become head of the Retirement Fund.

Iaulualo is a former vice Speaker of the House of Representatives, was director of Human and Social Services and was also a deputy Treasurer for ASG.

He was one of seven applicants for the executive director position.

Chairman of the Retirement Fund Board Vaanatiu Toafala did not return phone calls but a letter he wrote to Iaulualo dated December 31st, notified the new director of his selection.

The letter obtained by KHJ News reads in part, “Your selection and appointment follows a thorough and stringent review process by the board and our confidence in your capability to maintain the highest standard of professional conduct and integrity to manage and serve the Retirement Office and its members.”

The board chairman said that terms and conditions of Iaulualo’s appointment and start date will be discussed in the immediate future.

Vaanatiu said the Board remains confident that Iaulualo’s contributions will make a positive and significant impact to the success of the Retirement Office in service to its members.

Reached today, Iaulualo declined to comment saying the official announcement should come from the Board Chairman Vaanatiu.

KHJ News understands that Iaulualo resigned as Vice President of the Development bank of American Samoa DBAS last week and his last day at the bank was today.

There were four local and three off island applicants for the Executive Director position.

Aside fron Iaulualo, the other local applicants were Charles Warren, Alfonso Pete Galeai and Michael McDonald.

The Director of the Retirement Fund Luatua Filisouaiga Taafua was placed on leave with pay in July, while a criminal investigation was launched into improprieties relating to the spending of Retirement Fund money.

As of last week, Luatua was still receiving his pay as director, and the Board had not taken any action on his employment.

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