BUSINESS BRIEFING / PENSIONS
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The former director of the U.S. government’s pension agency invoked the 5th Amendment when senators probed allegations that he had improper contacts with Wall Street firms while running the agency that insures the pensions of 1 in 7 Americans.
Charles E.F. Millard has previously denied that he was party to inappropriate phone calls and e-mails with firms that recently won multimillion-dollar contracts to advise the agency on a new strategy to invest its assets more heavily in stocks, real estate and private equity rather than more conservative securities.
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