You think? I would wager if one looked in all the states’ teacher pensions there’s been mishandling in 80-90 % of them. You have in many cases non professional with no degree in finances or money matters. Take RI for example you have a non experienced very young treasurer with absolutely no background in finances but yet he’s handling the states finances! There is no prerequisite for a finance trained person with a degree who knows about stocks, investments, bonds etc.;for being treasurer RI so it becomes a political cushy job
The Rhode Island General Treasurer has direct ties to a group that advocated for Raimundo’s so called pension reform aka direct funds to Wall Street criminal/bankets.
Inexperienced Diossa, the newbie treasurer and raimondo's pal had no experience at all when he became Treasurer- no credentials in finance and limited background education for such an important position, dealing with the finances of the state of RI and is probably depending on the retirement board to do the work. He is learning on the job and no professional retirement company would ever do this...they have credentialed with finance background people employed and who handle investments etc. But that does not happen in RI. After raimondo was treasurer she became governor with Wall St and democratic backing, son of Ira Magaziner, Seth who also had no experience or background became treasurer so he could hide what raimondo did when she took away illegally the contracted pension cola from RI pensioners, and now we have Diossa doing the same, hiding what the raimondo admin did.
RI retired teachers are going to lose 65% of their promised pensions unless GA passes laws to reinstate frozen COLAS. Former Gov Raimondo devised the current scheme to fleece retirees of their pensions and strong armed GA members to push it through.
You think? I would wager if one looked in all the states’ teacher pensions there’s been mishandling in 80-90 % of them. You have in many cases non professional with no degree in finances or money matters. Take RI for example you have a non experienced very young treasurer with absolutely no background in finances but yet he’s handling the states finances! There is no prerequisite for a finance trained person with a degree who knows about stocks, investments, bonds etc.;for being treasurer RI so it becomes a political cushy job
The Rhode Island General Treasurer has direct ties to a group that advocated for Raimundo’s so called pension reform aka direct funds to Wall Street criminal/bankets.
Inexperienced Diossa, the newbie treasurer and raimondo's pal had no experience at all when he became Treasurer- no credentials in finance and limited background education for such an important position, dealing with the finances of the state of RI and is probably depending on the retirement board to do the work. He is learning on the job and no professional retirement company would ever do this...they have credentialed with finance background people employed and who handle investments etc. But that does not happen in RI. After raimondo was treasurer she became governor with Wall St and democratic backing, son of Ira Magaziner, Seth who also had no experience or background became treasurer so he could hide what raimondo did when she took away illegally the contracted pension cola from RI pensioners, and now we have Diossa doing the same, hiding what the raimondo admin did.
And Magaziner became the next Democratic Representative after doing his lousy job to keep retired workers poor.
Blame those who voted for him and gave him that job
The Minnesota Teacher Retirement does not manage its own funds, therefore they have no control over assets.
RI retired teachers are going to lose 65% of their promised pensions unless GA passes laws to reinstate frozen COLAS. Former Gov Raimondo devised the current scheme to fleece retirees of their pensions and strong armed GA members to push it through.
Ohio is having issues too.