Down the tubes

28 November 2016 By Kevin Allison

Investment losses and a bank-like run prompted the police and fire workers fund to ask the city for a $1.1 bln bailout. Some of its woes are unique, but it was chasing unrealistic returns in a low-rate world. That’s a problem for the entire $4 trln U.S. public pension system.

This content is for Subscribers only

To access full Breakingviews.com content you must be a subscriber. Please use the following link to request a trial.

 

Email a friend

Please complete the form below.

Required fields *

*
*
*

(Separate multiple email addresses with commas)