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Thursday, 14 September 2017 00:01

The pension gap, and how Blue State liberals are preparing a raid on your wallet

Written by  Ben Howe

As we enter the bottom half of President Trump's first year in office, there is some inarguably good economic news to be found. Employment is up, almost to full capacity, across the country.

The economy is growing. The stock market is making investors happy all over the place, from your average senior citizen with some utility stocks to the big institutional investors.

Public employees' pension funds have benefitted alongside the other big, more "Wall Street" players, too. According to the Wall Street Journal, "Large U.S. systems that oversee retirement funds for police, firefighters, teachers and other public workers earned median returns of 12.4 percent in the fiscal year ended June 30 … Funds overseen by the Illinois State Board of Investment earned nearly 12 percent in the fiscal year ended June 30 … The California Public Employees' Retirement System, the biggest in the U.S., earned 11.2 percent in fiscal 2017." The California teachers' pension fund has done well, too; it "reported a fiscal 2017 return of 13.4 percent." Connecticut's public pension funds "earned a collective return of 14.3 percent."

But before you plan a party for the public pensioners and their growing piggybanks, note one thing: Public pensions are still in trouble overall.

Read more at The Washington Examiner

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