Congemi, Roche Comment on MPERS Golf Investments

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April 15 (Bloomberg) -- Police Chief Nick Congemi and Municipal Police Employees' Retirement System attorney Randy Roche comment on the investment of Louisiana police pension funds in golf courses. The Louisiana police pension assembled golf and real estate holdings that lost 84 cents on each dollar the police spent on them over 10 years. The venture became emblematic of a decade in which the $1.2 billion program went from fully funded to $836.3 million short of meeting future retirement obligations. (Source: Bloomberg)

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