Questions raised about Atlanta pension arrangement - Houston weather, traffic, news | FOX 26 | MyFoxHouston

Questions raised about Atlanta pension arrangement

Posted: Updated:

ATLANTA (AP) - The financial adviser managing Atlanta's three pension systems says the city investing in a fund that was created by his own firm isn't a conflict of interest.

The Atlanta Journal-Constitution reported Sunday that Atlanta's firefighter, police and general employee pension boards approved a plan to invest $64 million in a fund created by Gray & Co., owned by city financial adviser Larry Gray.

The newspaper reports Gray's firm is also making about $400,000 annually to pick the best investments for the city's pension funds.

Atlanta Chief Financial Officer Jim Beard sits on all three pension boards and says Gray's ownership of the fund doesn't impact his ability to be impartial in advising those overseeing Atlanta's $2.5 billion pension system. The city's law department also stands by the arrangement.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • LocalMore>>

  • The High Cost of A Family's All-Out Battle with Autism

    The High Cost of A Family's All-Out Battle with Autism

    Tuesday, July 29 2014 11:08 PM EDT2014-07-30 03:08:00 GMT
    When Hurricane Katrina came crushing down on the City of New Orleans Tim and Irma Pfister clung tightly to their beloved community refusing to be dislodged.But three years later a much more intimate, more permanent and menacing crisis demanded a different course."After Katrina my practice grew, his job was secure our house there had no damage, but we had to make that decision to give up our careers and friends and family to come to Houston," said Irma.For the Pfisters that world altering even...
    When Hurricane Katrina came crushing down on the City of New Orleans Tim and Irma Pfister clung tightly to their beloved community refusing to be dislodged.But three years later a much more intimate, more permanent and menacing crisis demanded a different course."After Katrina my practice grew, his job was secure our house there had no damage, but we had to make that decision to give up our careers and friends and family to come to Houston," said Irma.For the Pfisters that world altering even...
  • Parolees living in southeast side halfway house face eviction

    Parolees living in southeast side halfway house face eviction

    Tuesday, July 29 2014 11:04 PM EDT2014-07-30 03:04:30 GMT
    A former death row inmates dream to help parolees has gone south leaving his widow and about half a dozen parolees facing eviction. Randy Wallace has this only on fox report
    A former death row inmates dream to help parolees has gone south leaving his widow and about half a dozen parolees facing eviction. Randy Wallace has this only on fox report
  • Peeping Tom sought in Katy, TX area

    Peeping Tom sought in Katy, TX area

    Tuesday, July 29 2014 8:37 PM EDT2014-07-30 00:37:28 GMT
    Fort Bend County Crimes Stoppers, Inc. will pay a cash reward for information leading to the arrest and conviction of the suspect involved in trespassing case in the Katy area.At 6:53 p.m. Thursday, July 17, 2014, Fort Bend County Sheriff's Office deputies were called to a home in the Falcon Point subdivision concerning a trespasser who was caught on video.The complainant was unaware of the intrusion until the homeowner noticed that an ottoman in the back yard had been moved onto the side yar...
    Fort Bend County Crimes Stoppers, Inc. will pay a cash reward for information leading to the arrest and conviction of the suspect involved in trespassing case in the Katy area.At 6:53 p.m. Thursday, July 17, 2014, Fort Bend County Sheriff's Office deputies were called to a home in the Falcon Point subdivision concerning a trespasser who was caught on video.The complainant was unaware of the intrusion until the homeowner noticed that an ottoman in the back yard had been moved onto the side yar...
Powered by WorldNow

KRIV FOX 26
4261 Southwest Freeway
Houston, TX 77027

Phone: (713) 479-2801
Fax: (713) 479-2859

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices