Pension lifeboat will provide three annual payments of $8.9 million to merged plan.
Audit reveals a lack of internal controls may have misappropriated funds within the retirement system.
Eco-investment scheme tops list of more than 600 convicted frauds.
Firm assumed annuitants were dead or unreachable if they didn’t respond to two mailings.
Funds were ‘pilfered’ to purchase luxury vehicles, real estate, and to pay earlier investors.
Executives allegedly used funds for yacht, sports cars, cosmetic surgery.
SEC alleges firm overcharged investors by inflating fund values.