Two top administrators with the state-run retirement system known as IPERS are being investigated for alleged misconduct and have been placed on administrative leave.
The Des Moines Register was first to report the system’s CEO was placed on leave Wednesday. Now the chief benefit’s officer for the Iowa Public Employees Retirement System has also been placed on leave, pending the outcome of the investigation. A spokesman for the governor said the situation does not impact IPERS benefits for over 424,000 current and retired government employees.
A former IPERS risk investment officer is suing the state, claiming he’s a whistleblower who was fired after alleging some expenses were being concealed and IPERS reports were overstating the performance of investments and downplaying investment risks.