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The first ULLICO scandal occurred in 2002. In June 1998, the New York City local of the carpenters union hired Zenith Administrators, a ULLICO subsidiary, to oversee the union's $1.7 billion pension and benefit funds. In 2002, federal prosecutors and DOL investigated the company for allegedly obtaining the contract through McCarron's influence.
The infusion will raise the pension fund's status to more than 60% funded, up from 34.3% funded as of 2022, according to Tom Lutz, president of the Michigan Regional Council of Carpenters and ...
This list of largest pension funds in the United States involves two main groups: ... Ohio Public Employees Retirement System: $97,713 $96,304 80.2% 7.5% 12
The $40 million dollar figure would actually appear to be an underestimate of the losses & the statement that it "disappeared" from the General Fund would appear to also be misinformation. The losses were suffered from the Carpenters Pension Trust Fund for S. Cal. and the UBC Pension Fund.
Dean and Patty Dennis worked in Ohio schools for 30 years, paying into a state pension plan. Then the pension stopped giving them cost-of-living increases.
State Teachers Retirement System of Ohio will lose its interim director and investments chief in the latest round of exits. Ohio teachers' pension fund to lose 2 key executives amid turmoil Skip ...
Since 2001, U.S. statewide pension funds have experienced significant funding challenges due to the recessions of 2001-2002 and 2008-2009. Prior to the Dot-Com Crash, statewide pension funds were over 95.6% funded in the aggregate. In 2002, the funded ratio had declined to 82.1%.
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