The soundness of the Wisconsin Retirement System

A while back I was talking to some hedge fund dudes with tangential involvement with institutional pensions, and I asked them, “hedge fund dudes, how come the Wisconsin Retirement System has done so well through the crisis while other state pension systems are colossally FUBAR?” and they said “the real reason is that decisions about the pension aren’t made by a bunch of legislators with political commitment, there’s a non-political board and most of the important decisions are made by financial professionals.”

This week the state legislature tried to replace that board with one composed solely of legislators.  The change, after public outcry, has now been rolled back.  Yay for my retirement, I guess?

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