Many Working Class and Middle-Class Americans rely entirely on their pensions to survive in retirement. A problem has emerged with pensions for public employees like teachers and police officers which are controlled by government entities who are susceptible to corrupting influences like campaign donors and lobbyists. Many public pensions have been persuaded, some say inappropriately to invest workers’ retirement money in opaque wall street hedge funds which are incredibly difficult to value and who do not provide the kind of transparency that government investors should be providing.
Advocate Attorneys is taking a lead role in helping retired teachers, police officers and other public employees hold their pension managers accountable. Our first success was in forcing the Ohio Public Employees Retirement System to admit that they had no idea where hundreds of millions of dollars invested for retirees and future retirees had been invested by a Hedge Fund called the Glouston Midwest Fund Our latest efforts have been in Rhode Island this story details our efforts to demand transparency and accountability from the managers of their pension.
We’ve filed suit on behalf of beneficiaries of the Chicago Police Pension system
We learned today that our efforts to force the Ohio Teachers Pension by using them in the Ohio Supreme Court has resulted in an investigation by the Ohio Department of Securities.
Holding pensions accountable is one of the many reasons that working-class Americans need access to experienced and skilled lawyers like those who work for and co-counsel with Advocate Attorneys.
Original Article – https://www.golocalprov.com/news/Who-Exactly-Are-Rhode-Island-Retirement-Funds-Partners