Pension funds hit two or three times

Fulman, Ricki
December 2003
Pensions & Investments;12/22/2003, Vol. 31 Issue 26, p2
The mutual fund scandal is a double or even a triple whammy for retirement plans invested with two or more firms being investigated by state and federal authorities. The investigations have meant heightened monitoring by pension fund executives and more frequent discussions with consultants and money managers. The New York State Deferred Compensation Plan now has four managers under investigation, which has been keeping everyone extremely busy, said Julian Regan, executive director. Putnam Investments Inc. was accused of failing to disclose or control excessive short-term trading by portfolio managers, it settled a civil lawsuit brought by the Securities and Exchange Commission, but still faces another suit filed by Massachusetts state Secretary William Galvin.


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