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IOWA'S LARGEST PUBLIC EMPLOYEE PENSION FUND FROZEN

hypocritexposer

Well-known member
Iowa’s largest public employee pension fund said today that $339 million of its assets are frozen pending a federal investigation into the business practices of an investment broker-dealer.

The Iowa Public Employees’ Retirement System, which has more than 312,000 members, issued a statement saying it has terminated its investment contract with Westridge Capital Management of Santa Barbara, Calif.

The action will not affect monthly benefits paid to the Iowa system's 85,000 pension recipients. The money involved represents about 2 percent of the Iowa pension fund's total assets, officials said.

http://www.desmoinesregister.com/article/20090223/NEWS/90223014
 

Lonecowboy

Well-known member
hypocritexposer said:
Iowa’s largest public employee pension fund said today that $339 million of its assets are frozen pending a federal investigation into the business practices of an investment broker-dealer.

The Iowa Public Employees’ Retirement System, which has more than 312,000 members, issued a statement saying it has terminated its investment contract with Westridge Capital Management of Santa Barbara, Calif.

The action will not affect monthly benefits paid to the Iowa system's 85,000 pension recipients. The money involved represents about 2 percent of the Iowa pension fund's total assets, officials said.

http://www.desmoinesregister.com/article/20090223/NEWS/90223014

help me with my math here please--
$339 million is only 2% of the funds total assets
divided by 312,000 members--
How much is that per person??
 
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