The U-T has a great article on changes in the portfolio mix of the San Diego County employee pension fund. In 2009, the county fired the fund manager after losses totaling $2 billion in 2008. Assuming that the fund had about $9 billion at the time, that is a loss of 22%, compared withan an S&P loss of 37% for …
California Looking for New Ways to Steal Worker’s Money
Well, that’s not what Jerry Brown and legislative Democrats claim their bill would do, but how can we doubt that wouldn’t be the effect. Here is what they are claiming, as reported in the SacBee: The goal is to create a savings program in which workers who have no access to a pension can count on a guaranteed rate of …
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