GAO to Investigate Central States’ Investments


by Hazel Bradford, Pensions&Investments,

June 29, 2016,

The Government Accountability Office will investigate the investment decisions made by the $17.8 billion Teamsters Central States, Southeast & Southwest Areas Pension Fund, Rosemont, Ill., an agency official confirmed Wednesday.

The investigation was requested June 21 by 10 senators and 41 congressmen, who asked GAO officials to consider several issues, including how the pension fund’s fiduciaries and relevant parties ensured conflict-free investment advice with reasonable fees. The letter also asked about the investment strategy and returns from 1997 to 2015, including comparisons to similar funds for each asset class.

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