Wisconsin's highly paid state investors pay others to do most investing
Description
(The Center Square) – Wisconsin has paid billions of dollars in recent years for outside investors to manage most of the state's retirement funds even though it has an expansive team of highly paid investment employees, according to state data. State auditors this year urged the state of Wisconsin Investment Board to create specific plans that might shift more of that management to state employees "because external management is more expensive," a recent report by the Legislative Audit Bureau said.
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