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Troubled Detroit pension funds send trustees to Waikiki

By Associated Press

POSTED:
LAST UPDATED: 11:30 p.m. HST, May 17, 2013



DETROIT » Four trustees of Detroit's two reportedly underfunded public pension funds are expected to travel this weekend to a Hawaii resort for a conference, with the $22,000 tab paid for by the funds.

Records obtained by the Detroit Free Press under the Freedom of Information Act show expenses include airfare, lodging at the Hilton Hawaiian Village Waikiki Beach Resort, registration fees, meals and other miscellaneous costs.

General Retirement System Trustee John Riehl, who plans to attend, says the six-day conference is needed to help trustees do their jobs.

The General Retirement System and the Police and Fire Retirement System each are sending two trustees.

A report Monday from Detroit's state-appointed emergency manger says they are underfunded by at least $600 million. The pension systems say they're adequately funded.






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