The City of Greensboro's former Assistant Manager Mary Vigue, now Say Yes Guilford Director, was directly responsible, along with City Council and other City staff, for doing Greensboro's employees wrong

"Morgan Stanley accused in lawsuit of mismanaging its 401(k) retirement savings plan

A participant in Morgan Stanley's 401(k) plan filed a lawsuit Friday in U.S. District Court in New York alleging that it offers investment options that have too-high fees and poor track records, including some mutual funds run by Morgan Stanley itself. The suit accuses the $8 billion plan of causing "hundreds of millions of dollars" in losses for its roughly 60,000 participants...

...Franklin Templeton's 401(k) plan was hit with a similar suit last month, for example. Participants filed suits against the Massachusetts Institute of Technology, New York University and Yale University earlier this month.

...Friday's suit alleges Morgan Stanley treated the plan "as an opportunity to promote Morgan Stanley's own mutual fund business and maximize profits" at the expense of its participants, by offering its own funds when it could have offered ones from other providers that had better performance.

As an example, the suit cited the Morgan Stanley Institutional Small-Cap Growth fund, which it said performed worse than 99 percent of its peers in 2014...

...the quality of a 401(k) or 403(b) plan depends largely on whether it has low costs and good investment options.

...Investors have been paying more attention to the fees they pay on their investments. Research has shown that one of the best predictors for a mutual fund's success is whether it has low fees. That's for the simple reason that a high-cost fund has to perform that much better than a low-cost fund to deliver the same returns.

...index funds charge some of the lowest fees available, and the dollars they've attracted have often been at the expense of higher-cost funds run by managers looking to beat the market."

http://www.cnbc.com/2016/08/20/morgan-stanley-accused-in-lawsuit-of-mismanaging-its-401k-retirement-savings-plan.html
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Please help save $35,122,520 for City of Greensboro employees

http://greensboroperformingarts.blogspot.com/2015/01/please-help-save-35122520-for-city-of.html
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When presented with the opportunity to do right by City of Greensboro's employees, Tony Wilkins, Marikay Abuzuaiter, Nancy Vaughan, Mike Barber, Yvonne Johnson, Jamal Fox and Sharon Hightower supported cronies connected to the financial industry, Jim Westmoreland, Mary Vigue, Rick Lusk and Connie Hammond rather than more than 2,800 employees who are still getting skimmed off of by ICMA-RC, the administrator for the City's 457 retirement plan.

Now Mary Vigue is in charge of a legal Ponzi scheme called Say Yes to Education and Say Yes Guilford whose business model skims profits for administrators and vendors meant for college scholarships for Guilford County students with monies donated by local foundations, managed for a profit by the Community Foundation of High Point, and the Community Foundation of Greensboro, who's Walker Sanders lied to get additional taxpayer funding for Greensboro's STPAC with the help of Matt Brown, City Council and City staff, including Rick Lusk.
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The News and Record didn't report how mimicking the federal government's Thrift Savings Plan could save Greensboro's employees more than $500,000 per year, to preserve Warren Buffett's profitability at the expense of their readers.

http://greensboroperformingarts.blogspot.com/2016/04/recent-jeff-gauger-and-news-and-record.html

The City of Greensboro shafted their own employees; "401(k) Fees, Already Low, Are Heading Lower"

http://greensboroperformingarts.blogspot.com/2016/05/the-city-of-greensboro-shafted-their.html

Say Yes to Education Red Flag; Mary Vigue; She is about to be in charge of more than $25 million for a 'non-profit' after shafting City of Greensboro employees out of investment fee cuts

http://greensboroperformingarts.blogspot.com/2015/10/say-yes-to-education-red-flag-mary.html

From today's letter to the editor, by mayoral candidate Devin King;

"The city has not responded to a 29-question inquiry

concerning George Hartzman’s proposal for the city’s 457 retirement plan,

which remains unanswered even after anonymous city employees 

sent a letter to the city 

and Councilman Tony Wilkins’ inquiries on July 1. 

Hartzman contends the plan 

could save Greensboro’s employees more than $500,000 per year, 

and the city won’t confirm or deny the validity of his arithmetic."

ICMA-RC doesn't act in the best interests

of the City of Greensboro's employees, 

but the best interests of ICMA-RC

with the help of Jim Westmoreland, 

Mary Vigue, Connie Hammond, Rick Lusk, Larry Davis

and Jamal Fox. 

The Vantagepoint Funds are distributed by ICMA-RC Services LLC, a wholly owned broker-dealer subsidiary of ICMA-RC.

Which is a conflict of interest

fully supported via inaction by Jim Westmoreland, 

Mary Vigue, Connie Hammond, Rick Lusk, Larry Davis

and Jamal Fox. 

ICMA-RC or its affiliates receive payments [kickbacks to ICMA-RC via VT] from third-party mutual funds that underlie certain VantageTrust Funds that may be available for investment through your plan. These payments are for services rendered by ICMA-RC or its affiliates to plans and participants, and are in the form of 12b-1 fees, service fees, compensation for sub-accounting and other services provided by ICMA-RC or its affiliates."

Otherwise known as revenue sharing agreements

which pick the pockets of Greensboro's employees

with the help of Jim Westmoreland, Mary Vigue, Connie Hammond, 

Rick Lusk, Larry Davis, Jamal Fox and the rest of City Council

who not only don't mind ICMA-RC skimming from City employees,

but have actively worked to assure the status quo remains the same. 

"Civil Response in writing please" ICMA members Jim Westmoreland and Mary Vigue trying to play Greensboro mayoral candidate Devin King for a fool, and losing

http://greensboroperformingarts.blogspot.com/2015/09/civil-response-in-writing-please-icma.html

A July 1, 2015 open letter to Greensboro City Councilman Tony Wilkins from some anonymous City employees invested in ICMA-RC's 457 Retirement Plan, who fear retaliation, without a response from the City

http://greensboroperformingarts.blogspot.com/2015/07/an-open-letter-to-greensboro-city.html

Zack Matheny misled City of Greensboro employees and Greensboro taxpayers on the plan at a recent City Council Meeting.

http://greensboroperformingarts.blogspot.com/2015/04/maybe-zack-matheny-was-lying.html

Both City of Greensboro Manager Jim Westmorland, Assistant Manager Mary Vigue and Human Resources Director Connie Hammond violated the City's Code of Ethics and misled the public and their own employees concerning the retirement plan.

http://greensboroperformingarts.blogspot.com/2014/11/george-hartzman-believes-city-of.html

Hartzman was told by Joe Killian in front of Susan Ladd there was to be a story on the 457 plan, and their wasn't, as Warren Buffett profits from overcharging retirement plan participants

http://greensboroperformingarts.blogspot.com/2015/05/subject-re-i-was-told-by-joe-killian-in.html

How Greensboro's City Council shafted the City's employees with Zack Matheny's help

http://greensboroperformingarts.blogspot.com/2015/04/how-greensboros-city-council-shafted.html

George Hartzman's ICMA-RC 457 retirement plan presentation, data source and Jodi Riddleberger News and Record article

http://greensboroperformingarts.blogspot.com/2015/02/george-hartzmans-icma-rc-457-retirement.html

From a currently employed ICMA-RC employee on not getting enough extra revenue producing "Managed Accounts"

http://greensboroperformingarts.blogspot.com/2015/01/from-currently-employed-icma-rc.html

City of Greensboro Manager Jim Westmoreland Lying to Tony Wilkins and City Council

http://greensboroperformingarts.blogspot.com/2014/12/city-of-greensboro-manager-jim.html

Hartzman's Retirement Plan Whistle; City of Greensboro Edition, located on the City's Server

http://greensboroperformingarts.blogspot.com/2015/06/hartzmans-retirement-plan-whistle-city.html

"TriMet's 401(k)-type plan on the screen behind him and said that, outside the federal government's Thrift Savings Plan, this was "the best I've ever seen."

http://hartzman.blogspot.com/2015/01/trimets-401k-type-plan-on-screenbehind.html

"Administrative fees and the tyranny of compounding costs."

http://hartzman.blogspot.com/2015/01/administrative-fees-and-tyranny-of.html

"Active Funds vs Index Funds 2014: Managed Mutual Funds Underperform
Passive Funds, Continuing Losing Streak"

http://hartzman.blogspot.com/2015/01/active-funds-vs-index-funds-2014.html

From Buck Consultant's ICMA-RC 457 Plan Administration RFP for Contra Costa County

http://hartzman.blogspot.com/2015/01/from-buck-consultants-icma-rc-457-
plan.html

ICMA-RC Response to the City of Anaheim California's 457 RFP

http://hartzman.blogspot.com/2015/01/from-icma-rc-response-to-city-of.html

Deloitte Defined Contribution / 401(k) Fee Study

http://hartzman.blogspot.com/2015/02/deloitte-defined-contribution-401kfee.html

How Greensboro, North Carolina Executive Management and ICMA-RC lobbyists reacted to Hartzman's Retirement Plan Whistle

http://hartzman.blogspot.com/2014/12/how-jim-westmoreland-mary-vigueand.html