Investor Fraud (update)

Update
Early this week, we were notified by one of our external investment managers that they had made an investment in one of the feeder funds that had invested with Bernard L. Madoff Investment Securities. MOSERS exposure to Madoff securities amounts to less than one tenth of one percent (.06%) of our total fund, and any losses resulting from the investment will in no way impact the security of your MOSERS benefit. As stewards of the fund, MOSERS takes this alleged fraud very seriously and we will aggressively pursue all reasonable means to recover trust fund assets.


Monday, December 22, 2008
Investor Fraud

Were any of our retirement funds invested with Madoff?

No, MOSERS had no exposure to Bernard L. Madoff Investment Securities in our investment funds, which has recently been in the headlines for alleged investor fraud.