state pension

Deciphering “Wall Street-Speak”

[Editor’s Note:  lots of deals(!) equal few(er) posts.] A prolonged period of very low interest rates will decapitalize defined-benefit pension funds”both private and public”throughout the country. In California, for example, pension actuaries presume a yield on their asset portfolios of about 7.5% just to break even in meeting their annuity obligations, even if they were fully funded....
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