Includes “… Citizens and taxpayers have a direct stake in the management of public pension assets. Particularly in places like Illinois, where an Illinois Supreme Court ruling a few years ago cemented the obligations of governments to retirement plans. If risky investment strategies are employed, taxpayers and citizens are exposed to the downside to make up any greater shortfall that arises. … the trustees of Pennsylvania’s largest pension fund confirmed in April 2021, in response to a reporter’s inquiry, that it was under federal investigation for related issues about calculating investment performance and investment transactions potentially related to ‘kickbacks and bribery.’ …”
Read the full article on: Bill’s Blog