Minnesota teacher pension fund under Tim Walz ‘blatantly cooked,’ investigator finds

 A pension investigator has found the books of Minnesota’s state retirement system under Gov. Tim Walz’s oversight “blatantly cooked” and cloaked in secrecy – prompting teachers in his home state to beg the vice-presidential candidate to tell the truth about lackluster investment performance and massive hidden fees.

Edward Siedle, an ex-US Securities and Exchange Commission lawyer privately hired by worried educators, has just published a bombshell 113-page report titled, “Minnesota Mirage: Sleight of Hand.”

“The investment returns have been inflated, and the fees grossly underreported to make the pensions appear to be doing better than they really are,” Siedle told The Post. “This has gone undetected for decades.” 

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Teachers raised $75,000 for independent pension investigator Edward Siedle, an ex- SEC lawyer, to audit their pension fund.Courtesy of Edward Siedle

As governor, Walz chairs the Minnesota State Retirement System, which manages $146 billion in pension funds for all state employees, including $28.2 billion for teachers.

Walz, a former teacher and beneficiary of the pension system, has never owned a stock or bond, he claims on financial disclosures.

Teachers in the 20,000-member Facebook group Minnesota Educators for Pension Reform say Walz has “not shown any support whatsoever” for their plea to open the pension fund’s tightly-controlled books. 

“So far, he has not responded, and I find that disappointing,” said MaggieTemple, who teaches social-studies at a high-school near Minneapolis. “But I also recognize that he has been extremely busy running for vice president.”

The group’s GoFundMe campaign raised $75,000 in February to hire Siedle to conduct an independent audit.

“If you’re such an advocate of teachers, why have 20,000 educators in your own state lost trust in the pension system you oversee and commissioned an independent review?” Siedle asked of Walz.

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The Minnesota Teachers Retirement System, which runs a $28 billion pension fund, claimed it has no investment records.minnesotatra.org

The Teachers Retirement Association, which administers pensions for 215,000 active and retired teachers, has publicly disclosed less than 10% of an estimated $2.9 billion in fees paid to Wall Street fund managers in the past 10 years, Siedle reports.

For instance, in 2023 the TRA disclosed total investment fees of only $24 million. Siedle estimates fees to manage the system’s $6.6 billion in private equity funds alone at $334 million to $467 million, based on industry standards.

The TRA has also posted gains claiming it beat its own benchmark by exactly 0.2% in every period for 30 years — which Siedle calls “virtually impossible.”

The teachers’ pension system has underperformed by $39 billion over the last 30 years, Siedle calculates: “Had the pension fund been prudently managed, it would be worth nearly $60 billion today, providing greater retirement security for participants and saving taxpayers billions,” he said — calling the shortfall “the cost of incompetence.”

Even before Siedle began his audit, state officials launched an “aggressive preemptive attack” in a bid to quash his investigation, he found. They urged teachers in the Facebook group to drop the probe, and held Zoom meetings with pension officials in other states to discuss how to stop “the movement.”

“TRA’s reputation as a trusted government agency is going to be questioned,” Jay Stoffel, TRA’s executive director, warned about Siedle in an email to the board, other state officials and legislators.

When Siedle requested investment records under the Freedom of Information Act, the TRA claimed it had none — a response that shocked the teachers.

TRA referred his inquiries to the State Board of Investment, which has yet to produce any records; “We have received nothing,” Siedle said.

His findings have raised alarm that the TRA has covered up mismanagement. Some veteran educators have complained of “significantly decreased benefits” and unexpected penalties.

The teachers mostly support Kamala Harris for president, Temple said, but complain that her running mate has ignored their pleas for a full accounting of the pension funds.

“Tim Walz is an honorable man,” Temple said. “So I’m hoping that now that this is out, when the governor has some time he can look into it, or assign lieutenant governor Peggy Flanagan to do it.”

Meanwhile, Minnesota news outlets have totally ignored the story, further frustrating the teachers.

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Gov. Walz, a former teacher, “has shown no support whatsoever” for educators begging the state to scrutinize their retirement system, they say.David Muse / CNP / SplashNews.com

“Pension officials were confident there would be no media scrutiny,” Siedle said. “No one has ever questioned them.”

CNN reported Friday that Walz and his aides have repeatedly minimized or dismissed state audits finding waste, fraud and abuse in government programs, reacting with hostility and contributing to “a culture of unaccountability.”

“The hostility is led by Governor Walz,” state Sen. Mark Koran, a Republican and vice chairman of a bipartisan audit commission, told CNN.

TRA executive director Jay Stoffel and Harris-Walz spokesman Kevin Munoz did not return requests for comment.

https://nypost.com/2024/10/05/us-news/minn-teacher-pension-fund-under-tim-walz-blatantly-cooked-probe/

'Federal government may be paying twice for care of veterans enrolled in Medicare Advantage plans'

 From 2011 to 2020, the Veterans Health Administration spent $78 billion to care for U.S. military veterans enrolled in Medicare Advantage plans, raising questions about federal overpayments to those private plans.

That's according to an analysis by researchers from Brown University and the Providence Veterans Affairs Medical Center. Published in JAMA, the study notes that because Medicare Advantage plans receive fixed per-patient payments for health care services without having payments reduced when veterans receive care through the Veterans Health Administration, the dual enrollment of some veterans may result in more federal spending than is necessary.

"When the federal government pays for care through the Veterans Health Administration and pays Medicare Advantage plans the full amount, it may mean the government is paying twice for the care of the same beneficiaries," said study author David Meyers, an assistant professor of health services, policy and practice at Brown University's School of Public Health. "These potential overpayments could correspond to substantial additional spending by the federal government."

The Medicare Advantage program is the privately run arm of the Medicare program, in which private insurance plans are paid by the federal government to deliver Medicare benefits, Meyers said. The Medicare Advantage program is growing rapidly, and the number of military veterans who used Veterans Health Administration services increased by 63% from 634,470 in 2011 to 1,033,643 in 2020.

The researchers used Veterans Health Administration (VHA) enrollment data to identify all veterans who were dually covered by Medicare Advantage and the VHA and used VHA services from 2011 to 2020. They found that the VHA paid more than $78 billion for health services. They also found that while the VHA paid for the veterans' health care, the federal Medicare program simultaneously made full payments for each dually enrolled veteran to their Medicare Advantage plan.

"The Medicare Advantage plan gets paid even when it's not necessarily delivering health care to the beneficiaries," Meyers said.

Meyers suggested two ways to address the overpayment problem: Reduce the payments the Medicare Advantage plans receive for beneficiaries who have VHA coverage, or allow the VHA to seek reimbursement from the Medicare plan. Reimbursement makes the most sense, he said, because veterans will still be covered regardless of where they receive their health care.

Under Section 1862 of the Social Security Act, care provided by VA and other governmental entities (with certain exceptions) is not covered under Medicare, and VA does not seek reimbursement from Medicare or Medicare Advantage plans. VA does bill private health insurance for certain non-service-connected medical care provided to Veterans, funds that directly support the care and services provided to Veterans.

"There should be an opportunity for the Veterans Health Administration to seek reimbursement from Medicare in order to be able to afford to deliver the care that veterans need and deserve," Meyers said.

The authors hope to conduct additional research to reveal the precise amount of duplicate spending.

This analysis is part of a larger study led by Dr. Amal Trivedi, a Brown University professor of health services, policy and practice and of medicine who is also a physician at the Providence V.A. Medical Center.

"We're focusing on the growth of enrollment in Medicare Advantage among veterans and what that means for Veterans Administration's health care," Trivedi said. "This study highlights the need to further understand the implications of veterans enrollment in Medicare Advantage on potentially duplicative federal spending."

More information: David J. Meyers et al, Spending by the Veterans Health Administration for Medicare Advantage Dual Enrollees, 2011-2020, JAMA (2024). DOI: 10.1001/jama.2024.18073

https://medicalxpress.com/news/2024-10-federal-paying-veterans-enrolled-medicare.html

Mexico Is Still Blaming Americans For Mexico's Gang Violence

 by Ryan McMaken via The Mises Institute,

This week, the US Supreme court announced that it will consider throwing out the Mexican government’s suit in the case of Smith & Wesson Brands v. Estados Unidos Mexicanos. The Mexican government alleges that Smith & Wesson and wholesaler Witmer Public Safety Group Inc. are intentionally conspiring with middle-men to supply Mexican cartels with guns. 

The Mexican plaintiffs have never actually proven any of this, of course, and this is all part of a larger effort by the Mexican regime and its apologists who have looked for a scapegoat to blame for Mexico’s runaway homicide rates over the past twenty years. In truth, the Mexican government would do well to look a bit closer to home. Mexico’s crime problems are a result of Mexico’s corrupt state, its centralized government—which is a federal government in name only—and the fact Mexico essentially outlaws gun ownership for peaceful, law-abiding citizens. 

In the past I’ve covered in detail the ways that Mexican crime is a result of Mexican law and illegal gun running of Mexican guns in Mexico. At the core of Mexico’s failed claims is the fact that guns are far more common in the United States than in Mexico, yet crime is far, far worse in Mexico. Even along the border, American border towns have far less crime than the Mexican towns mere yards away on the other side of the border. On the American side of the border, legal guns are plentiful. On the Mexican side, the Mexican government ensures that guns are mostly in the hands of the cartels. Or, as I put it in 2018: 

Like much of Latin America, Mexico is a country with strict gun laws, but high homicide rates.

So how to explain the problem?

Well, in the case of Mexico, the answer for gun control activists is to blame the United States: “one way for Mexicans to get around their country’s strict gun laws is to simply walk across the border.”

The logic proceeds accordingly: The presence of more guns means more homicide. And, although Mexico has strict gun laws, Mexico is unfortunately located close to the United States where guns can be easily purchased. Guns are then introduced into Mexico where they drive a higher homicide rate.

There are some problems with this logic. Even if we account for all the black-market guns in Mexico, gun totals are still much higher in the US. That is, according to the 2007 Small Arms Survey, it is estimated that there are around 15 million privately-held guns in Mexico, on the high end. Even accounting for an additional increase since 2007, we’re looking at a rate of fewer than 20 guns per 100 people in Mexico. In the United States, on the other hand, that total is around 100 guns per 100 people.

So, if one is going to pin Mexico’s violence problem on “more guns,” they have to account for why there are more than five times as many guns in the US, with only a small fraction of the homicides.

Moreover, the often-quoted statistic allegedly showing that as much as 70 percent, or even 90 percent, of guns seized in Mexico come from the US is not true. That statistic is based only on seized guns that are also traced by the ATF. How many of all guns seized in Mexico come from the US? According to Stratfor, “almost 90 percent of the guns seized in Mexico in 2008 were not traced back to the United States.” Nor does the Mexican government ask the ATF to trace all guns seized in Mexico.

This is because many of those arms can be traced back to the Mexican government itself. 

https://www.zerohedge.com/geopolitical/mexico-still-blaming-americans-mexicos-gang-violence

 

Hospitals prepare for months-long supply disruptions after Helene, port strike

 The healthcare industry has recently been facing significant supply chain challenges between the temporary Baxter North Cove plant closure and the East and Gulf Coast port strikes. The disruptions have raised concerns about the availability of critical intravenous solutions and other essential medical supplies. 

Leaders from the Healthcare Industry Resilience Collaborative, Somerville, Mass.-based Mass General Brigham and the American Society of Health-System Pharmacists connected with Becker's on how the challenges can be mitigated. 

What happened

Baxter International temporarily closed its facility in Marion, N.C., on Sept. 30 because of flooding from Hurricane Helene. The North Cove site, the largest manufacturer of IV solutions in the U.S., distributes intravenous and peritoneal dialysis solutions. 

At the same time, more than 45,000 dockworkers across 36 East and Gulf Coast ports went on strike Oct. 1, though the strike was suspended after the contract between the International Longshoremen's Association and the United States Maritime Alliance was extended into January. 

Both events took a toll on the healthcare supply chain, with leaders needing to act quickly. 

Jesse Schafer, executive director of the HIRC, said a prolonged recovery period could be in store, suggesting the industry must prepare for potentially months of constrained supply. 

"The market will be highly constrained," said Schafer. 

Chicago-based Northwestern Medicine told NBC News it anticipates IV fluid disruptions to be a "long-term issue."

Michael Ganio, PharmD, ASHP's senior director of pharmacy practice and quality, said the Baxter plant closure's impact is already being felt, including in medication shortages and delays in patient care. 

"Building strong relationships with our suppliers has been crucial," he said. "We need transparency to navigate these uncertainties effectively." 

Mitigation strategies

Mass General Brigham has already started to implement mitigation strategies. Paul Biddinger, MD, the health system's chief preparedness and continuity officer for Mass General Brigham, said it maintains a stockpile of essential medical supplies and has dedicated staff to oversee supply chain resilience efforts, he told Becker's via email. 

The health system has also developed a playbook for emergency preparedness designed to  enable swift action when shortages arise. In addition, Mass General Brigham has digital tools integrated with electronic health records, which allows the system to notify clinicians in real time about product shortages and suggest other alternative products when feasible, Dr. Biddinger said.

Cedars-Sinai in Los Angeles has also started implementing contingency plans as a result of the supply disruptions. 

"We are utilizing alternative solutions based on guidelines from national medical associations and exploring other ways to source IV fluids," a Cedars-Sinai spokesperson said in a statement to Becker's. "We are closely monitoring the situation, which is evolving quickly, and will keep our community and patients informed." 

Dr. Gaino emphasized the importance of conservation, as buying months' worth of inventory can rapidly deplete what is in the supply chain. 

"The primary strategy at this point is to conserve until we know more about what products might become available and about what Baxter's plan might be," he said. "How other manufacturers might be able to ramp up production is to conserve everything that might be affected.”

Dr. Gaino added that conservation also means using other methods of drawing up medications instead of through an IV until the shortage resolves. 

Leaning on communication

The need for collaboration and data sharing among healthcare organizations has also become increasingly evident amid supply chain shortages. 

Mr. Schafer said communication across the supply chain is essential for effective resource allocation. 

"What we're really missing is data and analytics to show where the greatest level of need is," he said. To address this, he said the HIRC is gathering insights from members regarding the state of the supply chain shortages and anticipated recovery timelines. 

Dr. Biddinger said Mass General Brigham has been using a range of communication channels, including emails, departmental updates and on-screen alerts, to ensure staff remains informed. 

Looking ahead

Healthcare leaders emphasized the need to rely on established risk management processes and employ conservation strategies until shortages resolve. 

"A mature risk management framework is built upon processes that help predict, prevent and recover from disruption," Mr. Schafer said. 

Dr. Biddinger echoed this sentiment, urging healthcare leaders to conserve while also focusing on transparent communication and collaboration. 

"Try your best to take care of your own patients as well as consider the patient community at large, and if you can't sleep well at night, answering the question, 'Am I hoarding at the expense of others?' Please reconsider," he said.

https://www.beckershospitalreview.com/supply-chain/hospitals-prepare-for-months-long-supply-disruptions-after-helene-port-strike.html

Russia to remove Taliban terrorist status, envoy says

 Russia is preparing to remove the terrorist designation from the Taliban, Russian envoy to Afghanistan Zamir Kamulov announced Friday, according to state media.

Kamulov said the Federal Security Service, Russia’s security agency, and “other” agencies “are putting finishing legal touches on the removal of the Taliban movement from Russia’s list of terrorists.” 

“A principal decision on this has already been made by the Russian leadership,” he told reporters. “But the process should be carried out within the Russian legal framework.” 

The Taliban has been on Russia’s terrorist list since 2003. In recent years, however, Moscow has made inroads with the group since its rise to power following the Biden administration’s withdrawal of U.S. troops from Afghanistan in 2021.

Russian Foreign Minister Sergey Lavrov met Friday with the Taliban’s foreign minister, Amir Khan Muttaqi, where they discussed “cooperation between Moscow and Kabul.”

“Ignoring criticism from the world community, the United States continues to illegally hold onto Afghanistan’s national assets and maintains tough sanctions against the country’s banking sector,” Lavrov said at the beginning of his meeting.

“Once again, we appeal to Western countries with an urgent call to acknowledge responsibility for the post-conflict reconstruction of Afghanistan, lift sanctions restrictions and return Kabul’s appropriated assets,” he added.

Lavrov also applauded the Taliban’s effort to fight against drugs and in confronting the Islamic State. The foreign minister called for an increase in humanitarian aid and vowed that Russia would keep delivering food and other supplies to the group. 

Putin, who called the Taliban a “trusted ally” in July, suggested the group could assist Moscow in fighting back against the Islamic State. ISIS-K took credit for a terrorist attack on a concert hall in Moscow earlier this year that killed over 130 people.

Threats from terrorist groups such as ISIS have surged across the globe since the U.S. withdrew from Afghanistan, an exit that marked a new phase in the war on terrorism.

https://thehill.com/policy/international/4917615-russia-taliban-remove-terrorist-designation/