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Matt Stiles
@stiles
, 7 tweets, 5 min read Read on Twitter
1/ The recent firing of the CEO at LACERA — the $56 billion pension fund for 110,000 @countyofla workers — has prompted a fresh and close look at its operations.

A short THREAD on my story detailing board members' expensive trips: latimes.com/california/sto…
2/ The story about LACERA travel comes after an @latimes analysis of more than 1,000 pages of memos and expense vouchers released by the association under CA's open-records act.

We made data from this records. You can get the data and docs on @github:
github.com/stiles/data/tr…
3/ The data show that board members from LACERA have traveled extensively since 2015, spending $1.3 million to fly more than 400 times across the state, US and overseas — including to China, India and Australia. latimes.com/california/sto…
4/ The LACERA travel is largely approved and obeys internal policy, but the $$ scale far outpaces peer pension funds in CA and elsewhere, such as the larger @CalPERS, according to an internal audit of the spending we discovered during our investigation.
5/ In addition to questioning the costs, the audit of LACERA board members' travel also raised questions and offered recommendations about expense documentation, spending controls and other issues.

You can read the full audit report here: documentcloud.org/documents/6209…
6/ The scrutiny isn't just coming from reporters or internal audits. The @countyofLA Board of Supervisors — led by @HildaSolis — is seeking an audit of its travel and administrative expenses. The board is expected to vote on that tomorrow.

The motion: file.lacounty.gov/SDSInter/bos/s…
7/ Expect more stories soon on the board members and LACERA, which still hasn't fully explained the decision to fire the CEO, Lou Lazatin. Have a tip? You can tell me confidentially.

Contact info here: latimes.com/la-bio-matt-st…

Our latest story: latimes.com/california/sto…
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