A panicky raid by local governments on a state-run investment pool and move by state officials to temporarily suspend withdrawals raises a question: Do the three trustees of Florida's retirement system still have confidence in Coleman Stipanovich, executive director of the state Board of Administration?

The key to his future employment could be Chief Financial Officer Alex Sink, who was pointedly critical of Stipanovich last week at an emergency meeting where the suspension of withdrawals was imposed. (Gov. Charlie Crist closely followed Sink's lead; the third trustee is Attorney General Bill McCollum, who participated by speakerphone and whose body language can't be assessed).

"I can't comment on that right now. I am very, very focused on the investors," Sink said when asked if she has lost faith in Stipanovich's stewardship of state investments. "We, as a board, will have to evaluate performance in due time."

Stipanovich, who has worked for the state since 1999, earns $181,964
as executive director of the state Board of Administration. His
educational background is in criminal justice administration, and he
began his professional career as a sheriff's deputy in Gainesville and
as a classification specialist in the state prison system.