New York Transit Worker Pension Plans Sue Over Fund Mismanagement

New York’s Metropolitan Transportation Authority (MTA) Defined Benefit Pension Plan Master Trust, Manhattan and Bronx Surface Transit Operating Authority Pension Plan and MTA Other Post-Employment Benefit Plan have filed a lawsuit against Allianz Global Investors U.S. alleging mismanagement of an AllianzGI Structured Alpha (SA) fund caused “astonishing” losses.