FYI: Maine’s public pension fund earned double-digit returns in six of the past nine years. Yet the Maine Public Employees Retirement System is still $2.9 billion short of what it needs to afford all future benefits to all retirees.
“If the market is doing better, where’s the money?” said one of these retirees, former game warden Daniel Tourtelotte.
The same pressures Maine faces are plaguing public retirement systems around the country. The pressures are coming from a slate of problems, and the longest bull market in U.S. history has failed to solve many of them.
Regards,
Ted
https://www.wsj.com/articles/why-the-longest-u-s-bull-market-has-failed-to-fix-the-nations-public-pensions-11554888600?mod=hp_lead_pos5
