Bibb County pension business under investigation

Bibb pension business under investigation

Macon Bibb Mayor Robert Reichert says former county manager Dale Walker misled him about his relationship with a consultant.

In a statement today, Reichert said Walker resigned last month after Reichert said he no longer trusted him.

Meanwhile, County commissioner Larry Schlesinger says the alleged relationship between Walker and the consultant is one  reason a federal agency is investigating Bibb County's pension business.

"It was really the SEC's investigation that began last fall and is ongoing at this time that has really brought to light the information that is now being shared with the public. That is really something of embarassment to those of us working in local government," said Schlesinger.

Reichert and Schlesinger reacted Friday to a Macon Telegraph report, based on 1,500 emails, that suggested a close relationship between Walker and a woman who worked for Independent Portfolio Consultants.

That's the company Bibb hired in 2014 to manage their pension funds.

Several months later, Schlesinger and some other commissioners asked county leaders to rebid the pension-fund work.

They argued that the selection process was not fair and seemed to favor IPC.

Reichert vetoed the county resolution. He said he was supporting Walker and that he did nothing inappropriate during the selection.

In January, the county learned that employees of IPC has filed bankruptcy petitions against the company, and county officials began the process of selecting a new company to manage their three pension funds.

© 2017 WMAZ-TV


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