Posted by Riverbender on February 23, 2020, 12:27 pm, in reply to "Pensions 101"
For one thing the State did not contribute what it should have over the years because the Politicians decided to use the funds for vote buying purposes so there was not the market participation growth that the private sector funds had. (Google the Edgar Ramp to see how it started)
Instead of investing in something simple like a low cost indexed fund such as Vanguard's offerings an assortment of highly paid so called investment experts often hired for political reasons turned out to be better at having political connections than investment picking abilities including "alternative investments" that seemingly haven't had good returns. Look here for more on that including Rauner's behind the scene activities (https://theintercept.com/2018/10/22/illinois-governor-bruce-rauner-pensions/)
There is so much more but there are tywo very big reasons why the mess was manufactured...yet the same people seem to always get elected and our new Governor wants another ramp....seriously...can ya believe it?
on February 23, 2020, 12:27 pm, in reply to "