"Kenneth Frier is Chief Investment Officer (CIO) of the Trust. As CIO, Mr. Frier is responsible for oversight of the Trust's investments that fund health benefits for retirees. Mr. Frier brings a unique blend of pension and endowment asset management experience to the Trust. Prior to joining the Trust, Mr. Frier held positions as chief investment officer at Stanford Management Company where he directed investment strategy for $18 billion in endowment and other assets of Stanford University; at Hewlett-Packard Company where he was responsible for $33 billion in retirement plan asset management including defined benefit, defined contribution, and global pension plan assets; and at The Walt Disney Company. He has also served in senior corporate treasury roles with HP, Disney and Oracle Corporation. At the Trust, Mr. Frier leads a team responsible for managing approximately $54 billion in assets. Mr. Frier's special expertise is in the understanding and management of financial risk. In the investment management context, this expertise will help the Trust seek higher investment returns while maintaining risk at appropriate levels. Mr. Frier holds a bachelor of science degree in Mathematical Science with a Computer Science emphasis from the University of North Carolina, Chapel Hill and a master of business adminstration degree from the Stanford Graduate School of Business. He has earned the Chartered Financial Analyst designation. "