The #1 rule of defined benefit pension plan management is that plan sponsors should supply enough cash each year to fund the “annual required contribution”
The California State Teachers Retirement System (CalSTRS) funding crisis is real, immediate, huge — and to date ignored by California’s political leaders. In 2013, the
There’s a memorable scene in the movie Airport in which Dean Martin, playing an aircraft captain, is asked by a passenger why it looks from
Recently there has been a good deal of press about public pension funds moving $600 billion to “alternative investments” managed by hedge funds and private
Recently CEO Jack Ehnes of the California State Teachers’ Retirement System (CalSTRS) asserted that the pension fund’s $71 billion unfunded liability “stems largely” from the
What if a corporation raised $500 million in a securities offering on the premise that the proceeds would go for operating expenses, then disclosed a
Crossposted on Sacramento Bee Anyone who reads the papers knows that cities and states are being hit hard by fast-rising pension and retirement health care
Crossposted on Advancing A Free Society Pensions and other retirement costs will consume more than 23% of discretionary state spending in fiscal year 2012-13, according
Crossposted on Bloomberg Governor Jerry Brown’s proposed $50 billion tax-increase initiative won’t solve California’s budget problems. Neither will anything else on the state’s ballot in November,