Ray L. Lillywhite, known as the dean of public funds, died Saturday in Colorado Springs, Colo. He was 92. Mr. Lillywhite spent more than 50 years in the pension and investment management fields, serving as head of state retirement systems in his native Utah as well as in Wisconsin and Ohio. He retired in 1992 from Alliance Capital Management, where he was senior vice president. The Employee Benefit Research Institute also established the Lillywhite Award that year to honor individuals with distinguished careers in the areas of investment management and employee benefits. Funeral services will be held at 11 a.m. MDT Friday at Myers Mortuary, 205 S. 100 East, Brigham City, Utah. Donations may be made to the Ray and Eloise Lillywhite Scholarship Endowments at Utah State University, Logan.