TIL: The CEO of CALpers, a $300 billion pension fund, doesn't have a degree
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Date: May 22nd, 2018 3:06 PM Author: misunderstood dilemma
As of 2018, the agency has $360 billion in assets, and is underfunded by an estimated $150 billion, with current assets below 70% of necessary to provide for liabilities.[9][10] In an effort to reduce this shortfall, at the end of 2016 the board lowered their expected annual rate of return on investments from 7.5% to 7.0%, increasing the costs California cities must pay toward their workers' pensions.[11]
(http://www.autoadmit.com/thread.php?thread_id=3983820&forum_id=2#36105960)
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Date: May 22nd, 2018 3:16 PM Author: Buff contagious laser beams therapy
CFO of CalPERS was an underqualified black who lied on his resume.
The place is a joke, but they aren't the real problem. The promised pension benefits are crazy and need to be cut.
(http://www.autoadmit.com/thread.php?thread_id=3983820&forum_id=2#36106011) |
Date: May 22nd, 2018 3:27 PM Author: Cyan Crotch
Holy shit. I'm an actuary and I have no illusions about the importance of my personal role (I'm a lowly cog in BIGINSURANCE), the relevance of the exams I took to get credentialed, etc.
But this is insane. Chief actuary of a $350 billion byzantine financial system is the single most important role in the system. I don't think this broad has taken a single exam.
(http://www.autoadmit.com/thread.php?thread_id=3983820&forum_id=2#36106078) |
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