Pension fund managers seek $480k to hire lobbyists to kill pension consolidation plan – WCIA

Comment: Ridiculous waste of taxpayer money on self-serving. The local pension boards are simply trying to retain their gigs and boondoggles, instead of making the system more efficient.
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Freddy
6 years ago

I brought up pension management fees to my local rep years ago and it basically died in one of the meetings. The data I had was from Ballotpedia 2011-2012. There were approx $57.4 Bil in assets with fees of $313 Mil per yr with an average return of 0.7% per year over 5 yrs. Now compare Alabama assets in 2012 of $28 Bil and fees of only $13 Million and return of 7.53%. Illinois fees were over 24 times higher on twice the assets or 12 times equal assets. So by my figures (over a 40 yr actuarial table) could… Read more »

Astonished
6 years ago
Reply to  Freddy

Money management is the biggest scam on Earth. Add IL politics and you have a perfect souffle of criminality and graft.

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