So here is an issue a lot of us have been kvetching about for a long time. Bloomberg has this today on the vast unknown of how all the thousands of municipal pension funds in Pennsylvania spend to administer their pension plans: Pennsylvania Pays Pension Penalty as Bond Costs Climb. It may be the . . . → Read More: 29 is the new zero
So here is one of those factoids that may confuse those who read too much news.
So what do we know about the City of Pittsburgh’s pension system? Officially it was funded at around 56%, but that really is an old number. It also is a number that is more than double what it . . . → Read More: Not all pensions are created equal
This could be an uber long post,or it could be short and pithy.
But if you think all the pension issues in the city are… if not say ’solved’ but even if you would go so far as to say ’stable’ there is a new iceberg in the water.
There are about to be . . . → Read More: Puttering on Pensions
I was told my blog here needs more white space. I am not sure this post will be an improvement, but here are some random hits from numbers talked about over the last week and a half.
So if I were Allegheny County and I were doing my due diligence defending itself in almost any . . . → Read More: Catching up on a week in numbers
Yunz thought I forgot. That or lost interest? Boiler has been building up steam is all. That and there seems to be quite a confluence of news in the nexus here: pensions, assessments, redistricting even migration. Damage Control teams being spread thin just trying to keep up. But let’s poke in on pensions for a minute.
. . . → Read More: Risk of depletion: the vacation from pension angst is over before it began
In December 2002, the NDA made a very big move in pension reforms. They decided that from 1/1/2004 onwards, all new staff recruited into the government would be switched out of the traditional defined-benefit pension and instead placed into a new individual-account defined contribution pension system. This was one of the major achievements of . . . → Read More: The reversal of reforms on the New Pension System?
PBT Today: Pittsburgh Pension Loses Out on Millions.
Personally I am going to send each member of the pension board a copy of a book just about everyone who invests in the market should have anyway:
Beyond that… there is a companion story with that: Lamb seeks answers to pension plan delay. Something does . . . → Read More: A Random Walk in Pension Accounting
Speaking of pensions ever again. The last post on the vast ambiguity in the value of the City of Pittsburgh pension fund was mostly a reflection of the lack of hard numbers in this story from February. It all sounds like accounting by Ouija Board.
I was going to follow up with yet another rant . . . → Read More: The 20 Million Dollar Decision
You know, just reading your quarterly investment statement is not supposed to be an exercise in Bayesian statistics.
I don’t quite understand the story today with the latest quarterly information on the assets of the Pittsburgh Pension Fund. Should be a boring straightforward story as these things go, but it confused me more than it clarifies anything. . . . → Read More: Pension Singularities
Ha. you thought this was going to be about the doings downtown today. Not quite, but everything is related somehow.
Can’t believe I missed this. From the Detroit Free Press: Risky bets cost Detroit pension funds $480 million. and check out their side story: Where the Detroit pension funds went wrong. Note the picture . . . → Read More: Risk and Pensions