LPNEWS

Vacancies Limit $34B Retirement System Board

by abc15.com posted 4years ago 570 views
<div>Arizona Gov. Doug Ducey has allowed so many vacancies on the board overseeing the nearly $35 billion retirement pension fund covering the majority of state, city and county workers that it has been unable to do any substantive work since November.</div> <div>&nbsp;</div> <div>The Arizona State Retirement System board has only four of nine seats filled. Because it lacks a quorum for meetings, it cannot formally sign off on major investment changes if managers believe they are warranted or other legally-required items like overseeing the system&#39;s director or signing off on audits and operating budgets.</div> <div>&nbsp;</div>

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