US - The Orange County Employees Retirement System (OCERS) estimated a software programming error which caused liabilities to be underestimated will cost the fund between US$6m and $7m per year.
According to the agenda for the May 18 OCERS' staff meeting, the glitch was built into OCERS' financial information system since 2001. As a result, the data reported to the fund's actuary did not i...
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