How Long Must New Hires Work to Get Pension Benefits? governing.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from governing.com Daily Mail and Mail on Sunday newspapers.
Forensic Investigation Of Ohio Teachers Pension Reveals Widespread Failures And Mismanagement forbes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbes.com Daily Mail and Mail on Sunday newspapers.
From Bloomberg: A group of retirees says the $80 billion Ohio state teachers' pension fund is paying high fees to private equity firms for underwhelming returns. A report commissioned by the 18,400-member Ohio Retired Teachers Association says 'billions have been have squandered' by the State Teachers Retirement System of Ohio on fees and under-performance in the pension fund's $14.3 billion alternative-investment portfolio, according to a draft seen by Bloomberg.
U.S. private equity firm Arclight Capital Partners LLC, which invests the retirement savings of Maine teachers, NFL football players and Mayo Clinic doctors, lost hundreds of millions of dollars betting on a troubled Caribbean oil refinery, according to sources and documents reviewed by Reuters.