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Pension Fund Manager Put on Leave

Today's Washington Post reports that "(t)he administrator of Arlington County's retirement fund was placed on indefinite leve yesterday, after a county audit found, "irregularities" in his expense report, including unauthorized trips to Delaware and a $200 charge for a spa day at an Arizona resort." The Post further reported the manager "said he had 'screwed up' when he charged an estimated $200 on his hotel bill for an afternoon of massage and yoga at the Center for Well-Being spa at the Phoenician, a luxury resort at the base of Camelback Mountain in Scottsdale" while attending an investment conference. Unfortunately, he didn't think he should absorb the cost as a personal expense since he told the Post he should have had "one of the fund managers hosting the event pick up the tab." The paper notes that Arlington's Comptroller is continuing an audit of 12 months of credit card statements. Unreported is when the previous audit of the pension fund was performed, what was found during the previous audit, and what internal controls exist to prevent similar 'irregularities' from occuring.

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