SC pension fund misses the mark on returns [General] - MarketTicker Forums


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Muscleknight Posts: 4011 Incept: 2007-06-26 Columbia, SC	COLUMBIA, S.C. — South Carolina's pension fund investments have generated far less over the past year than hoped, but officials say there's no cause for alarm. Preliminary numbers from the state's Retirement System Investment Commission show a return on investments of 0.6 percent for the fiscal year ending June 30. The state assumes a 7.5 percent annual return when calculating what it needs to keep the system solvent long-term. The portfolio's return for 2010-11 was 18.3 percent. Public Employee Benefit Authority director Bill Blume says the fund is in the hole significantly, but the hope is that year-to-year fluctuations average out to hit the goal. The fund is worth $25.3 billion, down from $26.2 billion last summer. The system paid $2 billion to retirees, and took in $1 billion from workers. http://www.thestate.com/2012/08/24/24113.... ---------- My Financial Avatars - http://s677.photobucket.com/albums/vv131.... A rumor isn't true unt 2012-08-25 23:10:28 Permalink
Grumpy_bear Posts: 623 Incept: 2008-02-26 More SRS please Mistress!	Entirely sustainable! ---------- Denninger, Karl. Leverage: how cheap money will destroy the world. Hoboken: John Wiley & Sons, Inc., 2012. p. 126, par. 3. 2012-08-26 09:45:21 Permalink
Throxxofvron Posts: 10448 Incept: 2009-02-17 Hyper-Speculative Psycho-Facsistic Parabolic Blow-Off	How do these Fund Managers NOT get taken out back and shot? Anyone feckless moron can get as good or better returns in short/mid term Trsys and vanilla over the counter Bank CDs. It is confounding to Me that this is tolerated/accepted. I had dinner with a bunch of NJ PSE&G Management last night. NO ONE could tell Me what the rate of return on their 401k was historically or has been recently. -The question made several People noticeably uncomfortable.... ---------- DIONYSUS: " Thou hast no knowledge of the life thou art leading; thy very existence is now a mystery to thee. " -from 'The Bacchantes' By Euripides “During times of universal deceit, telling the truth becomes a revolutionary act.” -George Orwell 2012-08-26 15:48:25 Permalink
Degaston Posts: 2264 Incept: 2007-07-27	7.5% is way too much considering the present rates on 10 year treasuries. I think 4.7% is more realistic. See http://tickerforum.org/akcs-www?singlepo.... for my analysis on this. ---------- 3/17/2013: Bullish on nothing - 100 percent in cash. 2012-08-26 22:08:53 Permalink
Tdaly Posts: 621 Incept: 2009-03-02 Lake Wylie SC	When Sanford was Governor the rate was 4% and the state pensioners raised cane and Sanford was overridden and it was pushed to 8% until this last session they brought it down to 7.5% some know it's still too high but the state pensioners keep fighting to keep it that high. They just want the taxpayers to contribute more to make up the difference but our governor said no. 2012-08-27 04:46:28 Permalink
Ben Posts: 6408 Incept: 2009-10-09 The Distant, Glorious, Past	If they set it at XX and it's YY, the taxpayer is assumed to make up the difference XX-YY=Tax. ---------- "Why are you going to learn French?" "Because I'm going to France," says Joe. "I'm from the future. You should go to China." 2012-08-27 07:45:53 Permalink