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:
THAT DUMP WILL GO BANKRUPT IF MILKDUD HAS ANY SAY SO
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.
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