IPERS Bosses on Leave, Fund Stays Steady
Des Moines News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Two top executives at Iowas largest public pension fund, IPERS, are on paid leave due to misconduct allegations. CEO Greg Samorajski and Chief Benefit Officer Steven Herbert were placed on leave on March 31st and April 1st, respectively. IPERS manages over $45 billion in assets for over 400,000 public workers. Governor Kim Reynolds assured that the funds health and payouts are unaffected. IPERS appointed General Counsel Elizabeth Hennessey as acting CEO. The funds financial health remains strong, with a funded ratio of 92.17% and a portfolio return of 10.14% beating benchmarks. However, there are ongoing investigations and debates about the funds management and future plans.
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