MPSERS - Teacher's Pension Audit Hiding the Real Facts

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01/30/2009

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MPSERS - Michigan Public School Employees' Retirement System audit page 18 where the deception is disclosed. The funded ratio is calculated using a... (More) MPSERS - Michigan Public School Employees' Retirement System audit page 18 where the deception is disclosed. The funded ratio is calculated using asset values that are nearly 2 years old. That is like opening today's 401k statement with a balance shown that is 2 years old and being asked to believe everything is fine - just exactly what Bernard Madoff did to his clients. (Less)