US - Pension fund beneficiaries have protested last Friday over the way the Illinois Municipal Retirement Fund (IMRF) and the Pennsylvania Public School Employees' Retirement System (PSERS) boards of trustees managed investments and took their fiduciary duties.
Specifically, they challenged IMRF's and PSERS's allocation to a Lazard-affiliated private equity fund that had posted severe losses. Pension fund beneficiaries from both pension funds joined wi...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here
