Retirement Board Committee 1/6 (part 2)
Another quick update on last night's Pension Board meeting... if I understood everything correctly... of the ten or so funds in the Town's pension... Cheshire has nothing related to the Madoff scandal. However, one of our funds is related to a fund impacted by the Madoff scandal. So there was some discussion about having a special meeting in case the Board decides to take quick action in the next couple weeks. Stay tuned.
Also, I asked about the less-than-wonderful relationship between Citigroup and Legg Mason that recently unfolded. I was assured that no such relationships exist between Citi and any of the funds in the Town's pension.
Tim White
1 comment:
The town has to look realistically at all the retirement programs.
However the investment return was figured in the past no longer holds true for the future, it's a new world and just like the private sector has been scaling back, the public sector has to realise change is necessary.
Post a Comment