"The [New York] Department of Financial Services ... blasted the [New York] state pension fund for using obsolete technology and computer codes that date back to the 1950s to manage the retirement system. The antiquated equipment puts taxpayers and pensioners at 'significant risk,' officials said in the audit.... The audit revealed that the pension funds' information systems are no longer supported by their manufacturers and lack vital security patches. Additionally, pension fund officials admitted to the DFS auditors that the technology programs were 'approaching the point of failure'[.]"  MORE >>