US - Colorado state treasurer Walker Stapleton plans to sue the Colorado Public Employees' Retirement Association (PERA) to gain access to data on the scheme's top beneficiaries, according to local reports.
The Denver Post quoted Stapleton, who serves as a trustee on the board, as saying he was concerned about the financial solvency of the plan, which is only 66% funded.
Stapleton sent a letter to the board in June asking for records of the top 20% PERA recipients including their year and age of retirement and the last five years of salary, among other details.
On his Facebook page, Stapleton wrote: "This raw data that I am requesting makes up the DNA of the retirement system. It is my objective, while serving on PERA's board, to act as a responsible board member and gather as much information as possible in order to make informed decisions to help keep PERA solvent for current and future retirees. Transparency and access to information should be part of any good corporate governance."
In August, the pension fund said it would not release those details. Officials said: "PERA takes very seriously the responsibility of maintaining the confidential information of our 478,000 members. PERA also believes that it must strictly abide by state laws and always respect its important fiduciary responsibilities."
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