Don’t make policy based on shorter-term volatility

2016-09-07T16:31:41-07:00September 7th, 2016|Categories: Pension Funding|Tags: |

In investing as in most of life, it is human nature to worry about the future. Public pensions have long been an antidote to worry, providing teachers, firefighters, police officers and other public servants with assurance that they will have a modest but secure stream of income during retirement. After all, they are called defined benefit plans precisely because the amount they pay future retirees is predictable. Investment returns, of course, have ups and downs. But public pensions are [...]