Thr following link is a press release from a research group in Maryland. The intro is:
ROCKVILLE, MD — A new study shows that state pension systems that pay the most for Wall Street money management get some of the worst investment returns. The study, conducted by the Maryland Public Policy Institute and the Maryland Tax Education Foundation, reviewed investment returns and fee ratios for 35 state pension systems and found startling results.
The gory details are in this six page study .
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