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Bailout Suggests It’s Time to Rethink Multiemployer Pensions
President Biden announced last Thursday that the government would give $36 billion to bail out the multiemployer Teamsters Central States Pension Fund. It is…
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Comments on Department of Labor Pension ESG Rule
At the end of last year, the Department of Labor (DOL) published a notice of proposed rulemaking seeking to rewrite rules on pension fund…
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Can Pensions Be Saved from Political Mismanagement?
The Department of Labor is currently working on a new rule that would give pension fund managers greater leeway in considering non-financial criteria when…
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Illinois’ Narrow Road to Pension Reform
On March 24, the Illinois Supreme Court struck down a Chicago pension reform bill that sought to address the city’s considerable pension shortfall. In…
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Don’t let Team Obama ‘protect’ your retirement account they way it has ‘protected’ your health care
Taking a victory lap as the Supreme Court vindicated ObamaCare, the Obama administration is busy preparing to apply the paternalistic precepts of the health care…
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“I’ll Gladly Pay Future Generations for my Pension Check Today”
“I’ll gladly pay you Tuesday for a hamburger today” was the trademark utterance of J. Wellington Wimpy, the mooching character from the old Popeye cartoons.
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CalPERS: It Came from Sacramento
“Heads I win; tails you lose.” That essentially sums up the relationship the California Public Employee Retirement System (CalPERS) has long enjoyed vis-à-vis the Golden…
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Moody’s $2 Trillion Public Pension Shortfall Estimate Highlights Need for Better Pension Accounting Practices
In a new report, Moody’s estimates the nation’s largest pension funds face a $2 trillion taken together. That’s a lot of money. But as significant…
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CalPERS Abandons “Hail Mary” Investment Strategy – About Time
CalPERS knows when to fold ‘em. The California Public Employee Retirement System, the nation’s largest public pension fund (and one of the world’s largest), announced…