Monday, April 9, 2018

Incoming North Carolina State Treasurer Dale Folwell; "We’re going to reduce the fees that we pay to Wall Street by at least $100 million dollars”

"...The state’s pension plan is currently valued at around $90 billion dollars and covers some 900,000 current and former public employees.  Currently, the plan is the 12th largest pension fund in the United States and the 26nd largest such fund  in the world..."

Shame on Greensboro's City Council for letting 'Wall Street' 
continue to steal from our City's employees with Jim Westmorland's help

Please help save $35,122,520 for City of Greensboro employees

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.

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

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

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

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

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

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.

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

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

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

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

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

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

"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."

"Administrative fees and the tyranny of compounding costs."

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

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

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

Deloitte Defined Contribution / 401(k) Fee Study

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