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.

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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.

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.