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Dissidents back off on efforts to oust top PSERS leaders
So, why are those questioning the handling of investments (apparently Democrats) by Grell & Grossman (seem like Republicans) being called "dissidents" and "rebels"?
What you need to know
The $64 billion Public School Employees’ Retirement System (PSERS), one of the nation’s largest pension funds, is embroiled in scandal and has become the target of an FBI investigation.
On Thursday, a dissident group of board members called for the firing of the fund’s chief executive and top investment officer, but didn’t yet have enough votes.
Amid the rebellion, PSERS management is urging $1.2 billion more in controversial investments.
In a surprise move Friday, the board put off taking action on almost all the new investment proposals.
PSERS expects “record asset growth,” but it won’t wipe out the $40 billion gap.
Dissidents, short of votes, decided against trying to oust PSERS top officials.
I have read a lot of articles on this issue and am not sure wtf is going on. Anyone want to share your reading of the situation? Am I just imagining it or are sleazy Republicans endangering my pension (which is through PSERS)?
