Op-ed by Mark Sievers, includes “… The additional contribution by governments, via taxpayers, could be as much as three times the current rate. The necessary cuts in other government services is political poison. Consequently, the pension plans continue to assume an unrealistically high return. … Then there are the fees. … The reality of the numbers is a sobering reminder that the needs of retirees, who are the ultimate investors, the taxpayers, who are the guarantors, and the desires of investment advisers and managers are not always aligned. We could use some strong leadership in this area.”
Read the full article on: Daily Republic (California)