[quote=ucodegen][quote=CA renter][quote=ucodegen]
The best way to get it out of the hands of those who have a greater impetus to fudge the numbers and contributions than to be up honest.. is to get it immediately out of their hands on every pay period. They really don’t face any consequences to their ‘fudging’.. but the employee does.
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The best way to get it out of the hands of those who have a greater impetus to cause damage to public pensions is to keep Wall Street and other *private sector* influences out of public pension funds.[/quote]Sounds good. Implementation is the problem. How do you expect to have return on invested funds, at least enough to offset inflation. Bonds? gotta go to Wall Street, Stocks.. likewise. Any time you have to ‘invest’, particularly large sums, you have to go to Wall Street. All that you have to do is do it in a way that is both transparent, does not ‘trust’ Wall Street, and prevents them from having control of the account.[/quote]
We need to go back to 100% in-house management with NO outside advisors. Anyone found guilty of fraud or corruption, either inside or outside of the institution, should personally lose EVERYTHING and face a very stiff prison sentence.
