Two major funds: the Police and Fire Retirement System and the General Retirement System.
As of 2011, the two systems are under federal investigations by the Securities and Exchange Commission and a federal grand jury. Ronald Zajac is a lawyer for the funds. In separate cases, deals made by Sam Riddle and Derrick Miller related to the funds are under investigation.
Robert Shumake and his company, ICG Leaseback Fund I, have over $70M in investments from the funds, including a $40M deal to buy 5 GM warehouses and lease them back to the city that cost the system around $22M.
- Kilpatrick's former aide tied to costly pension deal. Free Press. 16 September 2011.