“All I want is for the fund to be in good health and in good condition,” said newly elected Chairman of the American Samoa Government Employee Retirement Fund (ASGERF), Tofala Iafeta, who’s currently the Chief Radiologist at LBJ hospital.

The ASGERF board oversees the $200 million Retirement Fund.

Last week Samoa News reported that then Chairman of the Retirement Board, Fanene Morris Scanlan resigned due to health issues, and his resignation was sent by email to Governor Lolo Matalasi Moliga on Aug. 5, 2015, effective Aug. 12, 2015. His resignation was accepted by the Governor.

Last Friday, Aug. 14, the board held a meeting and there were two nominations for Chair: Iafeta and Sonny L Thompson. Attending the meeting, which was held at the Retirement Conference Room, were 5 members of the board — ASG Treasurer, Ueligatone Tonumaipe’a, Iafeta, Maaelopa Bob Tuiasosopo, ASG HR director Sonny Thompson and Beaver Ho Ching. Another board member Aloma E. Aumua-Langford, is currently off island.

Iafeta won the Chair with three votes while Thompson received two votes. Thompson is now Vice Chairman.

Tofala told Samoa News that he’s thankful that the board has trusted him by making him Chairman. He was Vice Chairman prior to taking over the Chairmanship. He also told Samoa News that he will see to it that Paragon Wealth Management will come down to conduct the audit of the fund, given what has recently occurred.

Last month former Chairman, Fanene made allegations against the ASGERF Executive Director, Luatua Filisouoaiga Taafua — who has been placed on annual leave for 30 days — about “questionable transactions,” over the use of the Chairman’s signature rubber stamp for checks issued out of the Administrative Account without proper authorization, as well as other suspected transactions done by Luatua in his role as the fund’s executive director.

At the time, the Board was said to have also asked Police Commissioner Save Liuato Tuitele to conduct an investigation into the matter, and that they were seeking an off-island audit of the fund to look at the suspected misappropriation or fraud by Luatua.

The new chairman says that all he wants “is for the fund to be in good health and in good condition.”

Tofala told Samoa News he wants to “make sure we do the right thing for the members as this is the future of the members.”

The new chair is retired from a career in the US Army in 1994 where he began his career in radiology. He joined the hospital in 2003 after working in the private sector for several years, rising from a radiologist Technician to Chief radiologist. He holds a Bachelors of Science in business administration (healthcare management) from Colorado Technical University.

Samoa News should point out that in their letter to the Retirement Board soliciting their services, Paragon Wealth Management wrote that their audit would be about the fund’s performance, especially in light of the 2014 financial report of the retirement fund that “shows that the Funded Status has dropped to 63.5%” and “is of great concern to all involved.” PWM recommended a separate company to be the investigator into the allegations of fraud, and noted it is “an independent firm and not affiliated with Paragon Wealth Management in any way.”

Samoa News understands the performance audit by PWM has been accepted, and the auditors will be arriving on island soon. However, there is no word on the investigation into allegations of fraud and misuse of funds by Luatua in his role as the fund’s executive director by an off-island firm. There is a current on-going investigation by Police Commissioner Save Liuato Tuitele, which was requested by the Retirement Board last month.