Pension Funds
Pallidium

New York, NY

#1 Jan 4, 2013
Everyone knows that many pension funds for public-sector employees are in trouble. The shortfall between the amount that should have been saved to pay for future benefits and the amount that actually has been saved totals hundreds of billions of dollars. But even that is a massively understated figure – the real shortfall is probably more than five times as big, or more than $4 trillion. The reason: Pension funds are greatly overestimating their likely future investment returns. Many funds assume a 7% to 8% compound annual return, when in fact 5% to 6% would be more realistic.

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