MN TRA Forensic Audit Fundraiser

PROBLEM:

Teacher Retirement Association (TRA) has failed to adhere to their four Guiding Principles (Shared Commitment, Intergenerational Equity, Long-Term Financial Goals, and Maintain Recruitment Value of Pensions), has perpetuated inequity for Tier II members, has presented members and the public with misinformation, and has demonstrated lack of transparency.

SOLUTION:

We believe accountability can be achieved by performing a forensic audit, an in-depth, outside examination of an organization’s financial records and transactions to identify potential fraud, misconduct, or other irregularities.

There are very few attorneys willing to investigate state-level pensions, but we have been in conversations with Edward “Ted” Seidle who has agreed to serve Minnesota teachers in completing a forensic audit of TRA.

Mr. Siedle has worked for the Securities and Exchange Commission and is the nation’s leading expert in forensic investigations of money managers and pensions, focusing upon excessive and hidden investment fees and risks, conflicts of interest, and wrongdoing. He has investigated well over $1 trillion in retirement plans. Ted recently investigated and found mismanagement in Ohio’s teacher pension program as well as other state pension programs in North Carolina and Rhode Island and in cities such as Nashville, Chattanooga, and Jacksonville.

We are incredibly fortunate Mr. Siedle has agreed to lead us in investigating TRA’s pension system.

GOAL:

In order to retain his expertise, we need to crowdsource $75,000. We agree this sounds overwhelming at first, but if Ohio teachers can do it, Minnesota educators can do it too! And given the number of hours involved, the fee doesn’t come close to what private counsel would charge. In fact, if just 3,750 of the nearly 20,000 members on this page were to give $20.00 (or more!), we will have met our goal! If we don’t, your donation (minus any transaction fees) will be returned.

Thanks in advance for your support!

Relationship to recipient: We are a grassroots organization of educators from Minnesota who wishes to determine if our pension fund is being properly managed. We are raising funds to hire an expert attorney, Ted Siedle, who investigates pension management, nationally.

Plan for disbursement: Funds will be directly transferred to Ted Siedle once the goal is met. If the goal is not met funds will be refunded to donors (minus transaction fees).