Federal prosecutors have been investigating the financial transactions of the D.C. Retirement Board, which manages the city’s $10 billion pension fund for retired teachers, police officers and firefighters.

The retirement board is responsible for maintaining the multibillion-dollar trust fund used to disburse pensions to more than 25,000 retirees who have worked for the District’s public schools and its police and fire departments. An August subpoena sought documentation of a variety of financial transactions, including records of payments to those who handle the pension fund’s investments."