The enemies of public employee pensions were handed a PR gift today. But it’s just smoke. « Fred Klonsky

The enemies of public employee pensions were handed a PR gift today. But it’s just smoke. « Fred Klonsky:

The enemies of public employee pensions were handed a PR gift today. But it’s just smoke.

by Fred Klonsky

It came as shocking news.
Illinois’ Teacher Retirement System reported out that their return on investment was .76% for fiscal year 2012. Holy crap. That’s less than 1%! Last year the return was 23.6%.
And it isn’t just Illinois.
Bloomberg reports today:

U.S. state and local-government pensions ended the 2012 fiscal year with a median gain of 1.15 percent as the European debt crisis and a slowing global economy damped stock returns, Wilshire Associates said.

It was a reversal after two years of gains for the retirement funds, which have 

The in box. Cinda Klickna’s two hats.

by Fred Klonsky

Fred,
I personally do not have a problem with the president of IEA being a TRS trustees.
That person must realize that they wear one hat as a trustee and another as IEA president.
However, regarding the actions of Mr. Ingram, regardless of which hat that person wears, she/he should not tolerate Mr. Ingram’s antics. This is especially true in light of the revised March 30th Trustee Resolution which provides that any pension legislation needs to adhere to the guaranteed statutorily prescribed benefits. Mr. Ingram has definitely violated the resolution, and continually 

Ten minute drawing. Today’s GOP.

by Fred Klonsky