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“BenefitsLink continues to be the most valuable resource we have at the firm.”
-- An attorney subscriber
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Search the News Archive
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35 Matching News Items |
| 1. |
BenchmarkAlert.com
Mar. 28, 2006
Excerpt: What are we looking for in our investigations? We are looking for (1) Conflicts of interest; (2) hidden financial dealings; (3) fraud and other forms of wrongdoing. These are NOT matters reviewed by accounting firms in their audits. In fact, audit firms would be subject to conflicts of interest in accepting such an assignment since they have already opined as to the accuracy of the financial statements.
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| 2. |
Edward Siedle
July 28, 2024
"[T]hese documents will confirm whether the alternative investments STRS Ohio has made are plagued with ... industry abuses ... as well as whether the pension may be able to recover any funds pilfered -- funds that could be used to pay benefits promised. Finally, public scrutiny of these heretofore 'Top Secret' documents will reveal whether the 'Special Audit of STRS' conducted by Ohio Auditor Keith Faber in 2021 was thorough."
[Siedle v. State Teachers Retirement System of Ohio, No. 22AP-375 (10th App. Ohio Jul. 26, 2024)]
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| 3. |
National Conference on Public Employee Retirement Systems [NCPERS]
Oct. 17, 2022
"In his recent Forbes column, Edward Siedle cited a study claiming that 94 percent of America's state and local government pensions are gambling on cryptocurrencies ... Of the 50 state/government pension plans around the world that responded to the survey, only 16 percent were in the US -- meaning only 8 ... of the more than 5,000 US-based public pension plans are part of the figure Siedle references. The study is hardly representative of US public pensions and their investment strategies."
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| 4. |
Edward Siedle
Sept. 15, 2025
"Mark Lee Greenblatt who served as Interior Department inspector general, 2019-25 ... opines, 'There's no downside to having independent inspectors general for public pensions.' ... It's no mystery why not a single public pension in America -- not a single one -- has followed Warren Buffett's sagely advice to invest index funds. Not a single public pension in America -- not a single one -- has outperformed, or even met, the index rate of return. Indeed, it seems there's no downside to looting public pensions. "
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| 5. |
Edward Siedle
July 27, 2025
"[O]ver the past 20+ years, public pensions, under pressure to meet high assumed returns (often ~7%), have embraced private equity for its historically higher reported returns versus public markets. These funds have universally underreported risks and fees (especially performance fees) and overstated investment performance by accepting rosy valuations from private equity managers."
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| 6. |
Edward Siedle
June 22, 2025
"Even in these days of its early development, it appears that Artificial Intelligence may already be helpful in explaining the complexities of public pension-private equity corruption and, in so doing, AI will hopefully expose and end these costly abuses."
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| 7. |
Edward Siedle
Mar. 24, 2025
"A PBGC policy mandating a forensic review upon a plan's termination would discourage bad behavior by pension advisers during this critical wind-down period.... [If] undertaken routinely, PBGC could become the leading resource for private and public pensions, and regulators, seeking to improve the nation's retirement savings plans. However, then, as today, opposition to forensic investigations of pension failures, or losses was intense."
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| 8. |
Edward Siedle
Mar. 9, 2025
"After 30 years of mismanagement, $6.5 trillion remains in America's public pensions. Another $6.5 trillion has been squandered and the damage is ongoing.... Over a dozen states are considering ... passing legislation to allow their pensions to recklessly gamble up to 10% on cryptocurrency.... DOPE would provide greater retirement security, transparency, and accountability at a massively lower cost to taxpayers."
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| 9. |
Edward Siedle
Feb. 18, 2025
"Even if losing all the pension money gambled means nothing to politicians, the risk of scandal, embarrassment, and threat of impeachment is very real."
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| 10. |
Edward Siedle
Feb. 12, 2025
"[S]tate pensions across the nation are poised to gamble -- and very possibly lose -- ten percent or more of the money they hold in trust for state employees on a worthless 'asset' commonly referred to as cryptocurrency. Pension stakeholders, including workers and retirees whose retirement security is at risk -- as well as taxpayers -- need to understand what's at stake."
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