What Other Lies Are Being Told By PSPRS’ Management?

PSPRS’ Administrator James Hacking hid the truth from the Arizona Department of Administration’s Director, Brian McNeil, for over six months regarding the existence of illegal pay raises to Investment Department Chief of Staff Mark Steed, Shan Chen, Mark Lundin, Deputy CIO Marty Anderson, and Vaida Maleckaite.

Why take this risk knowing that a FBI criminal probe was ongoing?  Was this hush money?

Wikipedia – Hush money is a slang term for a form of bribery, in which one person or party offers another an attractive sum of money or other enticement, in exchange for remaining silent about some illegal, stigmatic, or shameful behavior, action, or other fact about the person or party who has made the offer

What other lies are being told by PSPRS’ Management or Trustees?

  • Pay raises !!!

  • Sexual harassment !!!

  • Real estate valuations?

  • Accounting violations?

  • Manipulating bonuses?

  • Whistle-blower retaliation?

  • Constructive termination?

  • Poor investment returns?

  • Confidentiality agreements as gag orders?

  • Lawsuits?

Those receiving the raises were:

Mark Steed, chief of staff. His pay increased by 26.7 percent, or $27,142, to $128,741.

Shan Chen, lead portfolio manager. His pay increased by 19.4 percent, or $22,296, to $136,991.

Mark Lundin, deputy chief investment officer. His pay raise was the only one not retroactive. His pay increased 13.46 percent, or $22,890 to $192,890.

Martin Anderson, deputy chief investment officer. His pay increased by 13.3 percent or $24,400, to $208,000. Hacking also gave Anderson a three-year contract on June 1 that includes guaranteed raises and a $69,000 retention bonus in 2017.

Vaida Maleckaite, investment operations analyst. Her pay increased by 7.5 percent, or $5,895, to $83,895.

http://www.azcentral.com/story/news/arizona/investigations/2014/07/10/arizona-pension-public-employees-raises-ended/12444341/

Arizona to rescind improper pension raises

Craig Harris, The Republic | azcentral.com  July 10, 2014

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