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Labor Day 2022 Gift: Public Plans Projection Tool Update!  

by meep

I know, I know, and you didn’t get me anything.

Well, you’re giving me your attention, which should be gift enough.

Video explainer

Here’s a video with a few demos:

A screenshot

There’s basically no difference...

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One Bad Year? Comparing the Long-Term Public Pension Fund Returns Against Assumptions  

by meep

As I noted a few weeks ago, we’re getting the reports on pension fund fiscal year results on the asset side.

WSJ: Market Rout Sends State and City Pension Funds to Worst Year Since 2009

Public pension plans lost a median 7.9% in the year ended June 30, according...

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Against "Slightly Against Underpopulation Worries"  

by meep

Yes, I am having a slight bit of fun at Scott Alexander’s expense.

This is in response to his post: Slightly Against Underpopulation Worries, in which he pushes back against various people’s concerns re: global population trajectories in which we are likely to peak within the next century globally, and...

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Public Pension Returns Start to Roll In for FY 2022  

by meep

The results have not been looking good.

Remember that fiscal year 2022 ends for many (if not most) public pension plans on June 30.

Calpers: CalPERS Announces Preliminary Net Investment Return of -6.1% for the 2021-22 Fiscal Year

Tumultuous global markets played a role in CalPERS’ first loss since the...

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Indiana Governor wants to give back taxpayer money, but I say give it to the teachers pension fund  

by meep

The governor of Indiana posted this on Facebook yesterday:

Today I signed a proclamation calling a special session for the General Assembly to take action to return more than $1 billion of state reserves to Hoosier taxpayers.

This is the fastest, fairest and most efficient way to return taxpayers’ hard-earned...

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Original Sin (or Pandora's Box) and Public Finance and Pensions  

by meep

I think there are two inherent types of problems, or situations, in the human condition.

The first, I would argue isn’t a true problem. It’s that something is wrong, and we don’t know what to do.

Now, we might be able to figure it out, eventually. Or it might...

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While Teachers Agitate for Remote Teaching, They Should Remember Their Pensions  

by meep

Nutshell of my argument below:

• Some teachers unions, such as in Chicago, are pushing for remote schooling as omicron cases of Covid spread
• These are primarily in Democrat-run cities/areas, and politicians there are having short-term panics re: 2022 elections
• There is a longer-term danger to teachers’ pensions, as many of these are underfunded...

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Chicago Police: Vaccine Mandates and Pension Threats  

by meep

This strikes me as deeply unwise:

Chicago police vaccine mandate: New CPD memo threatens discipline, firing for non-compliance

- A second memo, obtained by the I-Team, was distributed throughout CPD Sunday. The latest memo threatens the firing of officers who do not follow the city’s vaccine policy and orders...

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National Public Pension Coalition vs. Truth in Accounting: Who is Accurate With Public Pension Unfunded Debt?  

by meep

A week ago, the National Public Pension Coalition posted Why Truth in Accounting’s Recent Claims about Pensions are Inaccurate. Back in October 2020, the group posted a similar piece: Texas Stands Up to Truth in Accounting.

There are some major points the NPPC (National Public Pension Coalition)...

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PSERS Update: What if it's just sloppy processes?  

by meep

Quick capsule: PSERS (Pennsylvania School Employees Retirement System) is in a pickle because someone mis-calculated their 9-year average return.

They originally said it was 6.38%, but now it’s been found to be 6.34%.

The issue is that there’s a target of 6.36%, and if the fund makes more than...

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