A couple of weeks ago, I discussed the coming "Pension Crisis." The important point made was the unrealistic return assumptions used by pension managers in order to reduce the contribution (savings) requirement by their members.
The next crisis won't be secluded to just sub-prime auto loans, student loans, and commercial real estate. It will be fueled by the "run on pensions" when "fear" prevails benefits will be lost entirely.
MetLife Inc. provided new details this week about how it lost track of thousands of pension clients. But state and federal inquiries promise to drag on for months and will make it hard to put the scandal behind it any time soon.
Starting July 1, 2018 stock markets around the world are going to get yet another artificial boost courtesy of a decision by the $350 billion California Public Employees' Retirement System (CalPERS) to allocate another $15 billion in capital to alrea
I've written a lot about US public pension funds lately. Many of them are underfunded and will never be able to pay workers the promised benefits - at least without dumping a huge and unwelcome bill on taxpayers.
This time is different are the four most dangerous words any economist or money manager can utter. We learn new things and invent new technologies. Players come and go. But in the big picture, this time is usually not fundamentally different, because
"There are folks that are saying you know what, I don't care, I'm going to lock in my retirement now and get out while I can and fight it as a retiree if they go and change the retiree benefits," he said.
Slowly but surely it is becoming increasingly clear to public workers in states with massively underfunded pensions that they've been lied to for the past several decades as their states can't possibly afford to pay for the retirement they've all bee
We've written quite a bit over the past couple of months about the pending financial crisis in Illinois which will inevitability result in the state's debt being downgraded to "junk" at some point in the near future (here is our latest from just this