[quote=ucodegen]
[quote=CA renter]If you study the history of these public pension funds, you’ll see that they originally invested only in VERY safe Treasuries (typically the largest allocation) and highly-rated bonds. It was the lobbying done by Wall Street that enabled the funds to put more and more of the pension money into riskier and riskier assets. It was the PRIVATE sector (the financial industry) that wrecked the pensions, not teachers, firefighters, cops, etc.[/quote]
The best way to get it out of the hands of those who have a greater impetus to fudge the numbers and contributions than to be up honest.. is to get it immediately out of their hands on every pay period. They really don’t face any consequences to their ‘fudging’.. but the employee does.
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The best way to get it out of the hands of those who have a greater impetus to cause damage to public pensions is to keep Wall Street and other *private sector* influences out of public pension funds.
