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How Do We Solve The Public Pension Fund Crisis in the US? Are Hedge Funds to Blame?

(Opalesque) An article recently published about the grossly underfunded Kentucky State Retirement System suggests that gambling on high fee hedge funds and private equity funds, and the use of placement agents, were primarily to blame. For many readers, it was likely a persuasive article. Quotes from scared retirees who have dedicated their lives to public service and are now rightly worried about their retirement benefits would pull on anybody’s heartstrings. The article was also potentially quite dangerous because it was fraught with inaccuracies and prejudices that, if taken as fact, could have severe negative effects on decisions made by other public pension funds and politicians.

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