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If passed, Question 8 on the ballot will add the mayor and top administration officials to a $167 million pension pool that covers municipal employees like nurses and teamsters.
To provide a little perspective, if the city's pension pool were a sovereign wealth fund, its current value — a hundred and sixty billion dollars — would make it the twelfth biggest in the world, just below Singapore's Temasek and quite a ways above Australia's Future Fund.
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And even as we pay for the pensions of the elderly, we know we won't be able to depend on the state pension ourselves – yet we struggle to get into decent private pension pools.
People living on income from a pension or other pool of savings have not experienced a similar drop in inflation.
In South Africa, the OAP improved the health status of pensioners and other members of the household where pension income was pooled (Case, 2001).
In South Africa, the presence of a pensioner lowered the probability that an adult had skipped a meal by approximately 25%§ if pension income was pooled (Case, 2001) and a female pensioner in the household had a greater impact on child hunger than adult hunger (Samson et al., 2004).
He criticized in particular the transfer of money from the pooled pension trust fund to a group of individual accounts for workers who had not yet retired.
Dutch companies, as well as public-sector employers, typically band together by sector in big, pooled pension plans, then hire nonprofit firms to invest the money.
The city's current approach, in which money is transferred from a pooled pension trust fund to a system of individual accounts, appears not to comply, risking the pension system's tax-qualified status.
He said the pooled pension trust had lost 24 percent of the value of its assets that year, but the trustees appeared to have credited the individual accounts with 7.5 percent interest.
The Asset Management segment provides advisory and management services to institutional clients on investment funds and hedge funds, funds, pooled pension plans, and portfolio management.
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