Wednesday, February 10, 2021

Kansas City Firefighters Switch Pension Fund Manager Amid Performance Issues

There will be a great deal of budget talk later today and so we're linking this note just to reminder readers/taxpayers that there's quite a bit of the budget that's sacrosanct despite the protestations of our political elite.

Read more . . .

Kansas City Firefighters terminates Franklin Templeton from fixed-income portfolio

Kansas City (Mo.) Firefighters' Pension System terminated Franklin Templeton from a $25 million global multisector fixed-income portfolio. The $635 million pension fund terminated the manager following a review of its overall fixed-income allocation, said Barbara Davis, retirement systems executive officer. Ms. Davis said there had also been performance issues with the portfolio.

2 comments:

Anonymous said...

THAT DUMP WILL GO BANKRUPT IF MILKDUD HAS ANY SAY SO

Anonymous said...

Actuaries have totally mis-calculated the human mortality rates and overestimated investment rates of return in computing unrealistic pension retirement benefits that are barely 50% funded at many states and municipalities.

The Actuaries, not the taxpayers, should pay for these errors that created the underfunded pension plans.