What can be done about this?! What legislation needs to be enacted? And/or who needs to lose their job? As a former manager of a $250B bank portfolio - similar to those of pension funds - I can tell you that a consistent, long-term return assumption/promise of 8% is absurd. 6% is aggressive. How do we, as constituents, get this changed?
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What can be done about this?! What legislation needs to be enacted? And/or who needs to lose their job? As a former manager of a $250B bank portfolio - similar to those of pension funds - I can tell you that a consistent, long-term return assumption/promise of 8% is absurd. 6% is aggressive. How do we, as constituents, get this changed?
we need legislation so that tax payers are not on hook for underfunded liabilities. That will automatically fix the rosy return problem