The economic shutdown caused by the coronavirus will result in a steep drop in tax revenue for state and local governments, forcing them to make difficult decisions about how to fund the state pension systems their employees rely on for their retirement.
Grand Traverse County commissioners Wednesday reiterated their commitment to an aggressive payment schedule that could fully fund the county’s $99.7 million pension debt in 10 years – but expressed frustration with their pension provider, directing staff to explore the county’s options for leaving the Municipal Employees’ Retirement System (MERS).
With the help of regulators and lawmakers, 401(k) plans are trying to become more like the old-fashioned pension plans they replaced. The latest example involves private equity, an illiquid investment that is a staple in pensions and now wants to be in your 401(k).
A Great Lakes employees retirement system is seeking emerging markets equity managers to handle up to $200 million and is conducting research into opportunities in the international developed markets space.