By E.J. McMahon, includes “With 55 percent of its assets invested in publicly traded domestic equities, the pension fund rode a stock-market roller coaster from last February’s all-time highs … Lower discount rates will also translate into higher required pension fund contributions by employers—i.e., higher costs for taxpayers—which will more accurately reflect the true cost of guaranteeing ample retirement benefits to public employees. In the meantime, taxpayers and public employers, go ahead and enjoy the ride—but hold onto your hats.”
Read the full article on: Empire Center (New York)