Detroit's pension boards pay $22K to send 4 trustees to Hawaii

[mahatmakanejeeves]

If it weren't four days old, I'd put this in LBN. Hat tip, Jalopnik:

Detroit's Underfunded Pensions Foot $22K Tab For Trustees' Vacation
http://detroit.jalopnik.com/detroits-underfunded-pensions-foot-22k-tab-for-truste-508807525

Detroit's pension boards pay $22K to send 4 trustees to Hawaii
http://www.freep.com/article/20130517/NEWS01/305170014/pension-funds-travel-General-Retirement-System-and-the-Police-and-Fire-Retirement-System-Hilton-Hawaiian-Village-Waikiki-Beach-Resort-Honolulu

4:16 PM, May 17, 2013

Four trustees of Detroit’s two public pension funds are heading to a Hawaiian beach resort this weekend with their $22,000 tab paid for by the funds, which are mired in claims of mismanagement and said to be at least $600 million underfunded.

Trustees say the conference provides the education they need to manage complex investments for the funds’ retirees and beneficiaries. But other major public pension systems, including the Los Angeles Fire and Police Pensions, avoided sending their officials to Hawaii because of concerns the exotic locale sends the wrong message at a time when pensions nationwide are contemplating or implementing reduced benefits to cope with rising retirement costs and shaky investment returns.

Records obtained by the Free Press under the Freedom of Information Act show the expenses cover airfare — including a first-class flight for one trustee — lodging at the Hilton Hawaiian Village Waikiki Beach Resort in Honolulu, registration fees, meals and a per diem for miscellaneous expenses.

[BlueStreak]

1. Is this the handiwork of the "emergency manager"?

[sweetapogee]

3. from the linked article...

"The trustees, including three of those going to Honolulu, approved travel expenses months ago for the Hawaii conference and various other conferences scheduled this year, including a one-day seminar the Michigan Association of Public Employee Retirement Systems held in February in Novi. The General Retirement System approved travel costs in December, and the Police and Fire Retirement System approved the costs in February".

You are welcome.

[BlueStreak]

6. The "emergency manager" has been on the job for 2 months

Maybe he knew nothing of it, but it did seem to take place on his watch. Using the Obama Rule, he is responsible.

[sweetapogee]

7. if that makes you happy

and brings joy to your life then it is all worth it!

[BlueStreak]

8. I'm just interested in seeing the standards applied consistently.

This may be the biggest scandal since Watergate.

[BuelahWitch]

2. Kick!

Because this is important!

[n2doc]

4. I'm sure they will learn a lot

Maybe more than they intended to.

[Safetykitten]

5. I guess the internets were all busy for this seminar to be online.