Comptroller: Fees wipe out billions in city pension gains

April 9, 2015 10:56 AM

64 0

An analysis by the New York City's comptroller has concluded the city's pension funds over the past 10 years paid over $2 billion in fees to money managers but got almost nothing in return.

Comptroller Scott Stringer told The New York Times ( ) the fees not only wiped out any benefit to the funds but have cost taxpayers billions of dollars in lost returns.

Also read: AT&T Closes Time Warner Deal, as DOJ Doesn’t Ask for Delay

Read more

To category page