Gov.-Elect Bruce Rauner Took Donations From Execs Who Manage State Pension Investments
November 14, 2014

There's so much dirt in how public pension funds are handled. Why do you think politicians try to put all the attention on public employees when their buddies are draining the pond dry? Via Business Insider:

Illinois Governor-elect Bruce Rauner accepted more than $140,000 worth of campaign donations from executives affiliated with firms in which Illinois pension systems have investments, according to documents reviewed by the International Business Times. The campaign donations flowed to Rauner despite state and federal rules designed to prevent pension investment managers from donating to candidates for public offices that oversee state pension systems. As governor, Rauner will now appoint the trustees who oversee Illinois’ pension investment decisions.

When IBTimes first presented the campaign finance documents to officials at the Illinois State Board of Investment late last week, they said they had never been asked about the donations. Days later, those officials announced they are now conducting a formal review of the system’s private investment managers to see if they complied with campaign finance disclosure requirements.

The announcement of the review came at the same time the SEC’s top enforcement official publicly suggested that the agency will be be intensifying its scrutiny of the relationship between political contributions and public pension investments. That relationship was a central theme in the Illinois governor’s race when Rauner’s opponents questioned whether his personal campaign contributions and payments by one of his portfolio companies unduly influenced state investment decisions.

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