Passive investing and PA’s screwy pension politics

The screwy world of pension politics was on full display last week. Gov. Tom Wolf and state Treasurer Joe Torsella wrote to the boards of the state’s two public pension funds suggesting they reduce investment costs by moving away from Wall Street money managers, putting more of the system’s assets into passive investments.

More phony pension bills

State Senate Republicans plan to reintroduce a supposed pension reform bill that failed last year. But the reforms in the legislation are so modest that it hardly seems worth the effort.

Pension problem—a train wreck headed our way

Pennsylvania’s pension system has provided government and public school employees with a guaranteed retirement amount for the past 100 years, but with government investments not making the financial returns originally anticipated, and retirees living longer in recent years, the state’s pension system continues to grow and accrue debt.