Feds freeze 339 million in assets of Iowa's largest public employee pension fund. Coincidence?

Broker probe freezes slice of IPERS's assets

By WILLIAM PETROSKI • [email protected] • February 24, 2009


Officials of Iowa's largest public employee pension fund said Monday that $339 million of its assets are frozen in a federal investigation of the business practices of an investment broker-dealer affiliated with one of its asset managers.

The Iowa Public Employees' Retirement System, which has about 312,000 members, said it has terminated its investment contract with Westridge Capital Management of Santa Barbara, Calif.

The National Futures Association, an organization that regulates its own members, said it had suspended the trading capabilities of two people who are principals in both Westridge Capital Management and WG Trading, a registered broker-dealer...

DesMoines Register

Coincidence that they're running military drills in Iowa recently? In all fairness they do say that this will not affect IPERS's monthly benefits that are paid to its 85,000 pension recipients, but they don't say for how long.

Peace

[edit on 24-2-2009 by Dr Love]

Wasn't it Iowa that started Obama on his way to the white house?

Isn't it Iowa where they practice fema camp drills also?

Wasn't it Iowa in the civil war that had more men in the union troops by percentage than any other union state.

I believe also more Iowans died in that war also by percentage.

Makes you wonder about whats going on up there in Iowa doesn't it.

Maybe they just drink the wrong flavored koolaid up there and follow the wrong politicians