Fund Managers Criticized for Pension Losses

An article by Plan Sponsor.com highlights how litigation in the pension plan arena will continue to be on the rise. A Dow Jones Report indicates the Center for Economic and Policy Research did a study, commissioned by the United Steelworkers of America, which criticizes pension fund managers for continuing to invest in equities during the late 1990’s. The study analyzes Federal Reserve Board data and estimates that public and private pension lost more than $1 trillion since 1997. The study accuses pension fund managers of failing to monitor investments closely enough.