Among the many losers picked by the Fed (in favor of rewarding a very tiny and wealthy minority), perhaps the greatest victims are pensions.
Pensions have to make a couple of key assumptions. One is how long you expect your cohort of pensioners to live. The second is the rate of return on the funds. On both counts, pensions have been wrong, and wrong again.
People keep living longer and pension fund returns keep underperforming.
from Peak Prosperity http://ift.tt/2bNkPMK
