Tag: state and local government
Alternative investments do not appear to have helped state and local pension portfolios. My co-authors – JP Aubry and Anqi Chen – and I have been laughing at ourselves over a recent brief. We were concerned that our topic and findings were explosive! So we had it reviewed by everyone under the sun, and st…
The brief’s key findings are: In 2016, the funded ratio of state and local pensions declined under both old and new accounting rules. This decline reflected steady growth in liabilities and slow growth in assets due to poor stock performance. More recently, the revival of the stock market is helping plan assets recover, with funded…
