In a preface to the report, Ingram openly discussed the possibility that TRS could go ‘insolvent,’ a development he blamed on consistent underfunding by state government. The same report, however, disclosed TRS’ return on assets in fiscal 2019 plummeted from $4 billion to $2.6 billion.

Questions regarding conflict-of-interest disclosures preceded the abrupt resignation of CalPERS Chief Investment Officer Yu Ben Meng on Wednesday, according to the pension fund’s board members.

Connecticut’s public employee pension plans are among the most poorly-funded in the nation. 

That’s the central quandary for California Democrats as they try to dig the state out of a $54 billion hole while also providing relief to the millions of people teetering on the edge of a financial cliff, CalMatters’ Lauren Hepler reports.

With the exposure of a rogue Novato real estate investor, Marin is becoming familiar with the concept of Ponzi schemes.

Pensions are one of the smallest percentages of state spending – and increases for pensions have been slower than the overall increase in state spending.

The major credit rating agency Fitch Ratings announced July 31 that it was downgrading the U.S. federal debt outlook from “stable” to “negative.” This is yet another strong signal that the rapid growth of the national debt is unsustainable.

Crisis and Leviathan is Robert Higgs’ great work of history exploring how politicians exploit crisis situations to grow their power. As their power grows, so too does the size of government.

Even in the best of times, accounting and financial reporting — which are often erroneously thought of as objective, straightforward exercises in number crunching — involve a considerable amount of subjectivity and judgment.

White House and Democratic negotiators driving toward a deal on a final massive virus relief package by the end of the week still must overcome a raw mix of election-year pressures,