What Illinois needs is a road map to reform that’s readily available when the state’s finances finally break down. At Wirepoints, we’ve laid out a path for fixing Illinois’ biggest problem: pensions.
“Everyone loves to hear about culture now,” according to Willis Towers Watson’s Sara Rejal, who noted during a panel discussion at the Absolute Returns Conference Digital 2020 conference on Wednesday that funds are interested in a broader due diligence particularly with its hedge fund and alternative strategy partners.
Whether the grass, or the pension fund return, is a more lucrative shade of green on the other side of the Municipal Employees’ Retirement System, is the subject of an ongoing inquiry by officials.
Trustees of the $57 billion pension fund for public school employees bet $100 million on a new investment with an I-Spy name —”Project Newton”— run by a manager PSERS wouldn’t name.
Battered by the coronavirus pandemic and low interest rates, public pension plans are headed for a record shortfall, posing risks to the living standards of millions of employees and retirees.
The unfunded liability of pension funds for state employees and teachers has risen as market returns have lagged on investments by Virginia’s $82 billion retirement system.