JEFFERSON CITY - One of the state's largest retirement systems for public employees will not be fully audited by the state.
The Local Government Employees Retirement System (LAGERS) says the state only has the authority to examine the system's private audits, and not to perform its own.
Monday Cole County Circuit Judge Richard Callahan ruled Missouri Auditor Susan Montee does not have the authority to complete an audit for LAGERS. Montee wanted to check LAGERS financial records to find out if it was paying out any big bonuses despite tough economic times.
Montee says she was surprised LAGERS would file a lawsuit to prevent an audit and believes this does not "instill confidence in them".
Montee is still authorized to review LAGER's private audit records.
Reported by: Brittany Hale
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