US. Pension Plans Had a Great Year, But Retirees Likely Won’t Benefit From It
Public pension plans are reporting double-digit investment returns, and some are even finishing with record highs this year. The high earnings are due to a robust stock market and are welcome news after two straight years of below-average returns for most pension plans. But finance experts say the investment boost likely won’t translate into an equally impressive reduction in pension debt because of the increasing cost of pensions. "Government contributions tend to be insufficient to reduce unfunded liabilities -- even if...