The in box. Our pensions assumptions are fine.
From Glen Brown’s blog.
Our Pension Assumptions Are Fine by Dick Ingram, Executive Director of the Illinois Teachers’ Retirement System
To the Wall Street Journal:
Your Nov. 23 editorial “Illinois the ‘Unfixable’” doesn’t provide your readers with an accurate view of investments made by the Illinois Teachers’ Retirement System.You note that the TRS investment return in fiscal year 2012, 0.76%, failed to reach our assumed return rate of 8% in that year. This, however, is misleading. The TRS assumed return isn’t a one-year target, but a 30-year goal. TRS will always focus more on long-term investment results. We won’t reach that goal every year.