For months, reporters at CBS42 have been digging into the files and activities of Retirements Systems of Alabama, or RSA, which provides retirement plans for more than 300,000 retired and active state workers. While RSA’s funds have grown from $500 million to at least $25 billion in the last 40 years, one expert says Alabama’s state pension fund is $28 billion short of its promises to state pensioners.
That shortfall may, in part, be due to investments made by longtime RSA chief David Bronner. CBS42′s investigation reveals that Bronner’s investment strategy seems to sometimes put investing in Alabama before securing the future pensions of Alabama state employees. It details how Bronner and RSA use their media holdings to amplify Bronner’s message and promote RSA’s golf and vacation properties—RSA-owned newspapers print Bronner’s editorials and RSA-owned TV stations in Alabama and elsewhere serve as an advertising platform.
Weld is proud to link to this three-part series. Please do not hesitate to click on the links below for much more information, including videos from from the series along with the e-mails and invoices on which CBS42′s assertions are based.