"I think there's going to be increasing incentive from the unions to negotiate better funding for pensions" as a way of protecting payments, he said.
For the first time, elderly people are more likely to commit crimes than teenagers, and as funding for pensions gets spread increasingly thin, retirees have less and less to fall back on when they leave the workforce.
Equally troubling is the suggestion that Paamco, which collects tens of millions of dollars in fees annually to vet hedge funds for pension funds and other clients, disguised aspects of its own business from its customers, partners and federal regulators.
New methodology from Fitch Ratings requires a 70percentt funding ratio for pension fund stability, and doesn't claim that any plan is "weak" unless its funding ratio drops below 60percentt.
Last December, it sued Zenith Capital Partners, a Santa Rosa, Calif., pension consultant, claiming that Zenith had accepted payments from a hedge fund for steering pension clients to it.
Broadly, both called for companies to pay higher premiums to the PBGC, stricter funding rules for pension plans and better disclosure.
FINANCIAL TIMES Morgan Creek Starts Mutual Fund | The new fund will allow average stock and bond investors to get a taste of the exclusive world of hedge funds, traditionally reserved for pension funds, charities, big institutions and the ultra wealthy.
One of the funds is earmarked for pensions.
The new fund, called the Tactical Allocation Fund, will allow average stock and bond investors to get a taste of the exclusive world of hedge funds, traditionally reserved for pension funds, charities, big institutions and the ultra wealthy.
Why didn't Andersen set up a protected fund for its partners' pensions in the past?
