Whether the grass, or the pension fund return, is a more lucrative shade of green on the other side of the Municipal Employees’ Retirement System, is the subject of an ongoing inquiry by officials.
Trustees of the $57 billion pension fund for public school employees bet $100 million on a new investment with an I-Spy name —”Project Newton”— run by a manager PSERS wouldn’t name.
Battered by the coronavirus pandemic and low interest rates, public pension plans are headed for a record shortfall, posing risks to the living standards of millions of employees and retirees.