MPSERS - Michigan Teachers' Pension Fund Lost $9.2 Billion in 2008

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01/30/2009

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Disclosure of the $9.2 billion loss in the Michigan Teachers Pension Fund. This loss is not disclosed in the calculations of the funds health know... (More) Disclosure of the $9.2 billion loss in the Michigan Teachers Pension Fund. This loss is not disclosed in the calculations of the funds health known as the funded ratio. The fund is using asset values that are nearly 2 years old to hide the fact it's health has deteriorated. How is this different than what Bernard Madoff did to his investors - deception is deception no matter how it's justified. (Less)