With special thanks to one of our favorite sources, Jim Willie at Golden Jackass, here is a roundup of some of articles that indicate the growing challenges faced by pension funds.
Ever wonder why your state and local pension funds are investing in large banks and housing bubbles through Wall Street while they insist that investing through local firms or directly in regional businesses and local communities is a poor investment?
Better yet, check out how much they paid in fees last year to the likes of AIG, Goldman Sachs, Bear Sterns, and Lehman Brothers.
You will be shocked.
Kentucky pension plans’ funding gaps grow
Pension obligations pose risks for GM
Paying for retiree health care — at last
New Jersey’s Pension Funding is problem too large to ignore
Public pensions are weighing on taxpayers
Global pensions lose $5 trln in 2008 – study
Hidden Pension Fiasco May Foment Another $1 Trillion Bailout
State Pension Funds $865 Billion Loss Means New Hires Get Less
US Companies Face $109 Billion Pension Tab in 2009
Down by $80 Billion, CalPERS Charts New Course for Investment Mix
Virginia’s Pension Fund Loses $13 Billion
Tough Choices for Colorado’s State Workers After $13 Billion Pension Fund Loss
Detroit’s Public Employee Pensions Lost More Than $2 Billion
72% of New York City Firefighters Who Retired Since 2004 Are Collecting Disability Pensions
Washington State’s Taxpayers Owe $5.9 Billion to Oldest Public Employee Pension Plans
New Mexico’s Public Pension Funds Need Increased Contributions After $5Billion in Losses
Tennessee’s Public Employee Pension System Lost $5 Billion in Past Six Months
US Corporate Pension Plans Lost $445 Billion in 2008
Pennsylvania Pension Funds Inform State Lawmakers of $28 Billion in Losses
