A colleague of mine who works at a pension fund did a study last year in which he concluded that, because of the extreme degree of public pension underfunding, a 10 % decline in the stock market for a sustained period — i.e. more than 3 or 4 months — would cause
every single public pension fund to blow up.
Not exact matches
Buffett also
singles out
pension funds run for
public employees.
In doing so, they are heeding Boris Johnson's calls for a «citizen's wealth
fund»: last October, London's mayor proposed pooling some of the UK's 39,000
public pension funds into a
single investment
fund large enough to reduce the country's dependence on foreign investment and close its infrastructure financing deficit.
In particular, he
singled out the high cost property taxes and the main cost - driver,
public employee
pensions, taking issue with DiNapoli's office pointing to a record - high return for the
fund at the end of the 2013 - 14 fiscal year.