The Teachers' Retirement System of Illinois, Springfield, is cooperating with the U.S. Attorney's office in Chicago in its investigation of two former trustees, Stuart P. Levine and John Glennon, and private equity investments made by the board during their tenure, confirmed Jon Bauman, executive director of the $32.7 billion pension plan.
Mr. Levine resigned from the TRS board last year and was indicted in May by a federal grand jury in Chicago on fraud charges regarding alleged kickbacks involving hospital boards in which he was a member. Mr. Glennon resigned from TRS in 2003 and was indicted earlier this month on three charges of aiding and abetting Mr. Levine in a construction kickback scheme at the Rosalind Franklin University of Medicine and Science, North Chicago, Ill.
Randall Sanborne, a spokesman for U.S. Attorney Patrick Fitzgerald, declined to comment.
Mr. Bauman said TRS staff and board members are cooperating fully with requests for information and added: "Our policy is not to comment on any pending investigation, but we can confirm that the system suffered no losses as a result of any of the issues being investigated."