7 05, 2018

California’s most powerful voice on Wall Street? Its pensions

2018-05-07T09:40:31-07:00May 7th, 2018|Categories: Defined Benefit Plans|Tags: , |

The fight over public pensions in California is almost exclusively described as a dispute between people worried about tax hikes and public servants wanting to get paid what they were promised. But this is only part of the pension story — one focused on the "liability" side of the balance sheet. What's missing is the "asset" side of that balance sheet. California's worker-centered pensions have played an extraordinarily important role as investors over the last 20 years. Moves to [...]

20 02, 2018

Wall Street caused pension crisis, not cops and firefighters

2018-02-20T09:28:46-07:00February 20th, 2018|Categories: Defined Benefit Plans|Tags: , |

If there’s one thing the debate over public employees’ pensions has taught us, it’s that California needs to invest more in mathematics instruction. When The Sacramento Bee editorial board (“The pension nightmare for California’s cities is getting scarier,” Feb. 13) and city officials wag their fingers of blame at firefighters, teachers, police officers and state pension systems that have yielded 7 percent returns in the long run, it’s clear there’s a fundamental misunderstanding of the numbers. In 1999, when [...]

3 04, 2015

Hospitals investing in Wall Street to shore up finances

2015-04-03T21:24:47-07:00April 3rd, 2015|Categories: Pension Funding|Tags: , , |

With regulation and competition increasing pressure on hospitals, hospital finance execs are turning more than ever to Wall Street to add stability to their balance sheets. The importance chief financial officers are placing on investments represents a major shift in the past 10 years, said Sheila Noonan, managing director and a senior client advisor for JPMorgan Asset Management in Chicago. Noonan said the first question CFOs are asked is whether their investment strategy is aligned with organization objectives. This [...]