US. Battered by Great Recession, underfunded public pensions to persist
Ten years on from the financial crisis, many U.S. state and local public pension systems are still the worse for wear.
Investment returns have been uneven and funding levels have yet to recover. Many pension funds have meanwhile attempted to boost returns by loading up on alternative investments to levels unheard of a decade earlier.
“Some just cannot grow their way out of it. We have had several years of stellar (stock market) returns and it barely improved the underfunding situation,” said Mikhail Foux, municipal credit analyst at Barclays in New York.
Read More: Reuters
