The Arizona Public Safety Personnel Retirement System is a $7.2B police, firefighter, correctional and elected officials' investment pension fund which has recently seen retaliations against dissent from within.  Mr James Hacking is the administrator of the pension fund.  He witnessed several resignations from investment staffers in 2013 after allegations were made by the chief investment officer Mark Steed's memo regarding a May 20th investment team meeting:

Team members are supposed to be free to disagree and challenge each other in the best interests of the pension fund, Mr. Steed's memo said.

“However, the attendee asserted that the culture is not Socratic and in fact team members are punished for disagreeing with management,” the memo said.

The memo detailed Chief Investment Officer Ryan Parham and Deputy CIO Marty Anderson as having leveled punishment upon a portfolio manager for asking questions about one of the fund's external real estate managers.

Recent court documents have revealed portfolio manager Anton Orlich departed June 7th and prior to that departure downloaded approximately 52,000 names, social security numbers, and addresses of other members.  He has since turned the records over to Maricopa County Superior Court.  Orlich's attorney Lynn Adams claims trust managers knew about this breach since October and that she finds its recent reporting suspicious timing.

The trust is now offering the 52,000 members a year of LifeLock identity theft protection.