Officials with the Iowa Public Employees Retirement System (IPERS) attempted to ease concerns this week about its $339-million investment with Westridge Capital Management that's been frozen during the investigation of Westridge owners Paul Greenwood and Stephen Walsh for securities fraud.
Donna Mueller, IPERS' chief executive officer, told the legislature's joint Government Oversight Committee that the frozen assets represent just 2 percent of the pension fund that serves about 300,000 current and former employees in state government, cities, counties and school districts.
"We're going to aggressively pursue every last dollar," Mueller said. "We maintain an additional cash balance so that we do not have to unnecessarily cash out investments. We are managing cash so we have a cash reserve to pay monthly benefits. It's only 2 percent, so we have other assets that are available to manage and to pay benefits. A greater concern, almost, is what's happening in the economy and impacting the entire portfolio."

Income
guidelines prevented Shannon and Jeff Gardemann from qualifying for
assistance from the state's Jumpstart program after the flood
destroyed their home in Cedar Rapids, so they're hoping a $56-million
disaster-relief bill signed into law this week by Iowa Governor Chet
Culver will provide them some much-needed help.
Political
commentator Eleanor Clift's Wednesday lecture at St. Ambrose
University is titled "America at a Crossroads - Politics or
Partisanship," but many will likely be more interested in inside
baseball, particularly considering the unusual uncertainty
surrounding the Democratic party's nomination for president.







