Pension Funds a Pending Disaster?
Interesting read.
http://app.ft.com/cms/s/66b6b70c-eba6-11e5-bb79-2303682345c8.html?sectionid=home
Although I think pensions are a misguided form of compensation for a number of reasons, particularly in the public sector where there is no shareholder value tethering pensions to profitably, I do sympathize with pensioners who accepted lower pay in exchange for deferred compensation in the form of pensions.
Beyond those fiery political issues, there's a more profound underlying probl
I thought that the funds were subject to standard bankruptcy court proceedings as a company asset, but it turns out you're right. Mea culpa. But it's not simply because they can't keep your money, it's because of the Investment Company Act of 1940 and how the fund is separated from both the parent company and the party that holds the money (usually a bank). Good job by our government back then setting up those regulations to protect investors. Here's a summary:
https://www.kiplinger.com/art