Monday, July 22, 2013


"The recovery in the U.S. state pension system suffered a setback in 2012 as the huge funding shortfall in a large swath of state pensions swelled more than 20 percent, interrupting two years of improvement following the devastation of the financial crisis.
The shortfall in 109 of the nation's state pension plans, which guarantee retirement for millions of public workers such as police, firefighters, and teachers rose to $834.2 billion in 2012, up from $690.3 billion the previous year, according to a new report by Wilshire Consulting, a unit of independent investment management firm Wilshire Associates.
The report highlights the uphill struggle faced by many of the state pension plans nationwide and is a reminder that financially strained state governments will have to make some tough choices in order to make up the shortfall.
It also shows state pension fund managers are continuing to up their exposure to less conventional assets such as real estate, private equity, hedge funds and commodities as they try to boost their returns and diversify away from over exposure to volatile equities."

94% of Corporate pension funds underfunded

 Chicago debt downgraded

Detroit already bankrupt, will the FED now bail out the States? VIVA the recovery!


1 comment:

Anonymous said...

One year later. That's right, pure genius.

"Not being invested in equities right now is one of the "most dangerous" things to do, according to Jack Bouroudjian, CEO of Bull and Bear Partners, who believes U.S. companies will beat Wall Street's estimates for second-quarter earnings.

Corporate America is "richer than ever before" and consumers have more disposable cash because of recent lower oil prices, Bouroudjian told CNBC on Tuesday, adding that the extra cash will boost earnings and bode well for stocks in the next few years. "

Mark it down, he's on record......certainly stocks are not over valued? but certainly in bonds you get NO's fixed

Posted by Marc R at 7:30 AM 4 comments:
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