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Sen. Grassley Seeks GAO Review of DOL Oversight of Central States Pension Fund
Sen. Chuck Grassley, R-IA Feb. 4, 2016
"In his letter to the GAO, Grassley said that for more than three decades, Central States has operated under a federal court-ordered consent decree obtained by the Labor Department following its investigation that found gross mismanagement and self-dealing by fund managers. Among other things, the consent decree granted the Labor Department considerable oversight authority on the selection of independent fund managers, as well as to changes in investment strategies, among other oversight powers. Grassley wrote that he is unaware of any GAO review of the Labor Department's role in overseeing the pension fund since 1985."
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