Head of state’s largest pension fund quits after probe

August 7, 2020 | Crain’s Chicago Business

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.

CalPERS chief’s abrupt resignation preceded by conflict of interest questions

August 7, 2020 | Sacramento Bee (California)

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.

An analysis of Connecticut’s public employee retirement plans

August 7, 2020 | Mercatus Center, George Mason University

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

CA Dems split: Tax the rich, or borrow big?

August 7, 2020 | CalMatters

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.

Some Marin public pension funds have Ponzi-scheme flavor

August 7, 2020 | Marin Independent Journal (California)

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

Pensions Q&A

August 7, 2020 | California Association of Professional Scientists

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

Latest US credit outlook downgrade should be the wake-up call our leaders need

August 7, 2020 | The Heritage Foundation

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.

As the pandemic demonstrates, Leviathan feeds on national crises

August 7, 2020 | Independent Institute

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.

Accounting for the coronavirus

August 7, 2020 | Law.com

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.

Stimulus talks accelerate with lawmakers under pressure to act

August 6, 2020 | Accounting Today

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,

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