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Public Pension Investments: Risky Chase for High Returns

A recent Pew report shows a systematic shift of public pension plans away from fixed-income investments towards equities and alternative investments in the last 30 years. Using investment data on public pensions from 1952 to 2012, Pew found that public plans “significantly increased their reliance on stocks” during the 1980s and 1990s. The data reveal that fixed-income investments and cash constituted nearly 96 percent of public pension assets in 1952. The proportion decreased to 47 percent by...

Supreme Court's Harris Ruling Could Affect All Government Unions

In barring state governments from forcing home caregivers to join a labor union, the U.S. Supreme Court this week also took big swipes at a prior ruling that allows states to force full-time state workers to join unions. “They destroyed Abood in every conceivable way,” said Professor Josh Blackman of South Texas College of Law, referring to this week’s 5-4 ruling in Harris v. Quinn. The Harris ruling also addresses Abood v. Detroit Board of Education, a 1977 Supreme Court case that allowed...

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