By Amy Silverman
By Olivia LaVecchia
By Monica Alonzo and Stephen Lemons
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By Weston Phippen
This explains why some legislators are concerned that in-house investing of state retirement dollars might make the fund vulnerable to political paybacks to friends of powerful state leaders.
"There are people in powerful positions who want control of this money," says Representative Kathi Foster, who supported Wong's bill. "Retirees in my district are very concerned.
"Anytime you open up a pot of money to the perusal of the Governor's Office or people in that camp, you open up the money for things you don't want.