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Former SEC attorney and Forbes contributor Edward Siedle will investigate of Rhode Island Pension's real estate investments.
107 backers pledged $20,130 to help bring this project to life.




Now that the Holidays are over, it's time to get back to the business of watching over your pension. Unless you proactively probe into what's going on with your retirement savings, you're going to be in for some nasty surprises in the next few years. 

Let's get this project fully-funded in record time!

In our first-ever crowdfunded investigation, Double Trouble: Wall Street Secrecy Conceals Preventable Losses in Rhode Island issued in June 2015, we revealed that real estate is the Rhode Island state pension's worst performing asset class by far. 

Real estate investment performance has been nothing short of horrific over the past 10 years—2 percent versus the Fund’s benchmark return of 9.6 percent. Real estate underperformance has cost the pension approximately $638 million over the past decade. Stakeholders in the pension want to know what caused these spectacular losses and who's to blame. If funded, we intend to provide them with the forensic evidence to answer these questions. The findings of this follow-up investigation will be released to media, published in Forbes and made available to the public, regulators and law enforcement. 

Through this second crowd-funded investigation of the state pension Rhode Islanders will once again demonstrate that an entirely new retirement plan paradigm is taking hold today—where workers and other stakeholders finally have a voice in how the pension is run. Today participants pay the cost of the experts employers hire for advice regarding retirement plan matters, yet lack access to experts of their own choosing to review the decisions that are made. Without the information and specialized knowledge required to evaluate the retirement plans their employers offer, participants lack an effective voice in plan matters. 

A retirement planning paradigm which specifically excludes the very individuals whose money is at risk makes no sense. It’s time for a change. While few participants or stakeholders can afford to hire a nationally-recognized investment expert on their own, through crowd-funding using our proprietary forensic protocol, participant or stakeholder dollars can be combined to fund a high-impact independent review at a far lower cost than even an employer would pay. We know it can be done because over the past 30 years we've reviewed over $1 trillion in assets.. Of course, you don’t have to be a worker or participant to contribute to this investigation. The identities of the crowdfunding donors are confidential. To view our prior investigations:

Risks and challenges

The chief obstacle any forensic investigation encounters is access to information. We believe that we will be able to access sufficient information to complete the review.

Prior investigations include the states of Rhode Island, North Carolina, Alabama and Kentucky; the cities of Nashville, Jacksonville and Chattanooga; Shelby County, Tennessee and the Town of Longboat Key, Florida; major corporate plans such as Wal-Mart, Caterpillar, Lockheed, United Technologies, Boeing, Northrop Grumman, Deere, Bechtel, ABB, US Airways and Edison; and asset managers such as Fidelity Investments, JP Morgan, Sanford Bernstein, and Banco Santander.

To view our prior investigations:

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