Most public pensions do NOT need to follow the regulatory and audit provisions that corporate pensions do. They do not issue reports on performance, nor disclose returns or fees paid.
Most public pensions are managed by a mix of political appointees, their cronies and Wall Street sharks
Its a recipe for immense theft, malfeasance and political corruption.
YOU will someday need to bail them out.
“YOU will someday need to bail them out.”
Here in Illinois someday is today.
L