Good advocacy depends on source-faithful claims and a public record readers can check.
We request the decision records
The investigation collects agency productions covering packets, minutes, correspondence, contracts, analysis, transactions and holdings. Original evidence is preserved separately from published derivatives. A source record identifies its agency, original filename and locator, and labels what its date represents: a message, decision, transaction, account snapshot, reporting period, scheduled maturity or reference check. Production receipt and filename dates do not establish transaction dates.
We read the file in context
Text extraction and automated search are locator aids. Rendered pages, original spreadsheet rows and surrounding material matter when layout or data types affect meaning. We do not treat a failed keyword search as proof that a record does not exist.
We tie important claims to a specific record
Signed minutes establish the motion recorded. A schedule establishes a planned meeting. A seller’s message establishes the seller’s account. A completed bank record carries more weight for completion than an earlier notice. Each source page explains what it supports and its limits.
We organize the money by decision stage
Authorization, funding, purchase, settlement, holding, maturity and processing are distinct. Par and value including accrued income are also distinct. A later holding of the same security is not an additional purchase.
The $84.9 million historical calculation combines different record dates and a conditional Treasury residual. It is not a confirmed lower bound. The $125 million mixed-stage illustration substitutes ATRS funding for the ATRS security inside it; it shares the same Treasury assumption. Treasury’s processing payment is excluded. See the background measures, components and sources.
We bound absence findings
The reviewed APERS productions do not identify an independent consultant sovereign-credit memo tied to the purchases. That does not exclude oral or unproduced work. Aon supplied substantive implementation advice; Treasury supplied internal credit analysis; ATRS possessed external rating material. Read the analysis finding.
We protect private and operational information
Published derivatives exclude private and operational identifiers where required. A derivative must preserve the source’s substantive words, amounts, dates and status. Evidence images are literal source pages or rectangular crops, with explanatory captions outside the image.
We correct the public account
New evidence can resolve earlier gaps. Corrections explains the September changes. Privacy corrections can replace a public derivative at its existing address, with the original hash and reason recorded in the download history. Original evidence is retained privately. Historical dated downloads remain historical; the current explanation is this site’s reviewed September content. No archive-wide record-count headline is used without a new count audit.
Send source questions or corrections to info@arpensions.org.