Teacher Retirement System Evaluated
By: Import User
Updated: January 7, 2009
Directors of the state`s largest retirement
system scheduled a special meeting for tomorrow afternoon to
discuss pulling more than 450 (m) million dollars out of a
scandal-plagued mutual fund company. Putnam Investments is accused
of defrauding investors.
Pension funds in several states decided last week to take about
four (b) billion dollars out of Putnam funds following the filing
of civil fraud allegations against the mutual fund company.
David Malone, executive director of the seven (b) billion dollar
Arkansas Teacher Retirement System, said today that the system`s
board would hold a teleconference tomorrow to determine whether to
follow suit.
Last year, the system lost 40 (m) million dollars in investments
with the collapse of Enron Corporation.
Posted by Mike Hellgren
