When the crisis abates, the gap between well-funded plans and the others will be even larger.
Auditor general says the process to replace the investment manager was 'fatally flawed.'
System gains $3.9 billion to reach total assets of $29.3 billion.
$178 million reduction in investment fees since 2007 is not enough.
Policies lauded for governance, portfolio management.
Treasurer says the change will save the state $5 million a year in fees.
State treasurer expects the move to save the state about $5 million a year in fees paid to managers.