Demonizing Public Pension Funds is Misguided, Irresponsible

摘要

A renewed rash of headlines around the country is thrusting the finger of blame at public pension plans for ongoing state and local government fiscal ills, from budget shortfalls to municipal bankruptcies. The apparent trigger for this latest bout of public pension pummeling is disappointing annual investment returns in 2011. Focusing narrowly on one small part of a very big picture makes it easy enough to demonize public pension plans once again. But it's also misguided and irresponsible.