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This Halloween, forget about monsters, witches, and Donald Trumps. Something more dangerous lurks in the night – and it’s not your usual ghoul. Since the 1980s, defined contribution 401(k) plans have been dressed up as good alternatives for retirement savings.…
Contrary to popular belief, defined benefit pensions are not only good for workers and taxpayers, they’re also good for the economy, generating significant amounts of economic activity nationally each year. According to a report released by the National Institute on…
North Carolina is known for a lot of things. Controversial voter ID laws. Duke basketball and Tar Heel basketball. Kitty Hawk. I have an unlikely suspect to add to the list: North Carolina has one of the strongest public pension…
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…
Earlier this week, MIT, Yale, and New York University were sued because their 401(k)-style retirement plans have had excessive fees and provided employees with a bewildering array of often-low-quality investment options. The Universities, in effect, allowed the transfer of a…
Forbes called it “fiscal snake oil.” The New York Times editorial board: “ruinous.” Late night talk show host Seth Meyers weighed in saying: “Even when you buy couch cleaner, they tell you to try it on a small patch of…
News of the “Brexit” vote trickled over the Atlantic Ocean late in the evening last Thursday. By Friday morning, Facebook and other social media sites were overflowing with questions about what this meant for the U.K., what this meant for…
It’s no secret that our nation is facing a student debt crisis. You don’t need me to tell you that more and more people are graduating with burdensome student loan debt levels that force them to rely on credit cards,…
Poderosos grupos sindicales, la Coalición Nacional de Pensiones Públicas y la red religiosa Jubilee USA abogaron hoy por enmiendas al proyecto que impondría una junta federal de control fiscal por encima del gobierno de Puerto Rico. Las uniones AFL-CIO, Sindicato Internacional…
Low balling projected rates of return on public pension plans is a sure-fire way for critics to paint a needlessly dire picture of US cities and states collapsing under the weight of their promises to police, fire fighters and teachers.…
Among the many complex issues in Puerto Rico’s dire financial situation—the Island owes a staggering $73 billion in debt—is how to treat the pension obligations owed to the more than 100,000 retirees and 125,000 active members in the Puerto Rico…