Thu, December 12, 2024
[ Thu, Dec 12th 2024 ]: Toronto Star
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[ Thu, Dec 12th 2024 ]: Daily Express
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[ Thu, Dec 12th 2024 ]: Toronto Star
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[ Thu, Dec 12th 2024 ]: NBC News
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[ Thu, Dec 12th 2024 ]: ABC
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[ Thu, Dec 12th 2024 ]: Richmond
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[ Thu, Dec 12th 2024 ]: Mother Jones
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[ Thu, Dec 12th 2024 ]: London Evening Standard
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[ Thu, Dec 12th 2024 ]: Daily Express
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[ Thu, Dec 12th 2024 ]: WESA
DA Zappala sues Allegheny County, retirement board over 'Ponzi scheme' pension system
[ Thu, Dec 12th 2024 ]: Cleveland.com
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[ Thu, Dec 12th 2024 ]: Sydney Morning Herald
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[ Thu, Dec 12th 2024 ]: BBC
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[ Thu, Dec 12th 2024 ]: MSN
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[ Thu, Dec 12th 2024 ]: MSN
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[ Thu, Dec 12th 2024 ]: MSN
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[ Thu, Dec 12th 2024 ]: The Globe and Mail
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[ Thu, Dec 12th 2024 ]: MSN
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[ Thu, Dec 12th 2024 ]: MSN
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[ Thu, Dec 12th 2024 ]: MSN
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[ Thu, Dec 12th 2024 ]: MSN
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[ Thu, Dec 12th 2024 ]: MSN
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[ Thu, Dec 12th 2024 ]: MSN
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[ Thu, Dec 12th 2024 ]: MSN
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[ Thu, Dec 12th 2024 ]: The Financial Times
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[ Thu, Dec 12th 2024 ]: MSN
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[ Thu, Dec 12th 2024 ]: MSN
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[ Thu, Dec 12th 2024 ]: MSN
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[ Thu, Dec 12th 2024 ]: Reuters
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[ Thu, Dec 12th 2024 ]: Mother Jones
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[ Thu, Dec 12th 2024 ]: MSN
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[ Thu, Dec 12th 2024 ]: MSN
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[ Thu, Dec 12th 2024 ]: MSN
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[ Thu, Dec 12th 2024 ]: MSN
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[ Thu, Dec 12th 2024 ]: MSN
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[ Thu, Dec 12th 2024 ]: MSN
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[ Thu, Dec 12th 2024 ]: RTE Online
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[ Thu, Dec 12th 2024 ]: The Morning Sun
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[ Thu, Dec 12th 2024 ]: MSN
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[ Thu, Dec 12th 2024 ]: i
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[ Thu, Dec 12th 2024 ]: MSN
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[ Thu, Dec 12th 2024 ]: MSN
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[ Thu, Dec 12th 2024 ]: MSN
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[ Thu, Dec 12th 2024 ]: MSN
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[ Thu, Dec 12th 2024 ]: MSN
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[ Thu, Dec 12th 2024 ]: MSN
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[ Thu, Dec 12th 2024 ]: MSN
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DA Zappala sues Allegheny County, retirement board over 'Ponzi scheme' pension system

Allegheny County District Attorney Stephen Zappala has filed a lawsuit against the Allegheny County Retirement Board, alleging that the county's pension system operates like a Ponzi scheme. The lawsuit claims that the system, which has been in place for over 100 years, relies on new contributions to pay benefits to current retirees, rather than being fully funded. Zappala argues that this practice is unsustainable and potentially illegal, as it does not adhere to actuarial standards for pension funding. He is seeking a court order to force the board to address the funding shortfall, which he estimates at over $1 billion, and to reform the pension system to ensure its long-term viability. The suit also highlights the lack of transparency and accountability in how pension funds are managed, suggesting that current practices could lead to significant financial distress for the county in the future.

Read the Full WESA Article at:
[ https://www.wesa.fm/politics-government/2024-12-12/da-zappala-sues-allegheny-county-retirement-board-over-ponzi-scheme-pension-system ]