A brief post here for some uplifting news on the Front of State and Local Pension Funding. NCPERS, "the largest trade association for public sector pension funds, representing more than 500 funds throughout the United States and Canada." "A unique nonprofit network of public trustees, administrators, public officials and investment professionals who collectively manage nearly $3 trillion in pension assets. Founded in 1941, NCPERS has been the principal trade association working to promote and protect pensions by focusing on advocacy, research and education for the benefit of public sector pension stakeholders." (1) June 7, 2011 :
Within these $3 Trillion in Pension Assets are a considerable amount of Assets captured within Investment Company Institutes $13.1 Trillion measurement of the US Fund Industry (Mutual, ETF and Unit Investment Trusts - UITs), (2) which we previously noted had been eclipsed by the national debt of $14.3 Trillion (not a good sign). Never the less, we are happy to take good news where we can find it these days and this NCPERS report is hopeful in it's conclusion that "reforms and structural changes" in Public Retirement Funds are starting to show some signs of improvement.
Here is a direct link to the NCPERS Report issued on
http://www.ncpers.org/Files/2011_06_ncpers_public_fund_study.pdf
Investment Companies are interconnected to Public Employee Retirement Funds for a portion of their Assets Under Management along with Institutional and Individual Investor Funded Programs so you have a three way connection to this report, The Investment Company Industry, Taxes that Fund Public Pensions (via Individual, Corporate and Service driven Taxes at the State and Local level), and the issue of Funding on the Local and State levels of the overall Debt Issues. We are glad to hear some news of improvement in Public Finances at the Local and State levels and hope it continues as the case.
With time we'll continue to look at Federal, State and Local Debts and Taxes and how it's all working together in this challenged Economy. Also we are aware that there are Local Governments in Favorable Financial Positions and welcome all of your news on the State of the States and thier Local Finances. Also take the time to follow us on Twitter where we are forwarding relevant news on these and other factors in the Economy. Like you we are looking forward to better news in the Economy and encourage progress on the Local, State and Federal Debts to better protect Our Nations Financial Future. Fix the Debt - tweet us #FTD if you are on it...we will when we find relevant news on twitter corresponding to Fix the Debt news and activity. Taken a step further we could add a rating system where + = good news and - = bad news. We need to encourage reponsible Fiscal Fiduciary Financial Legislation wirh aims to correctly balance key governmental services and debt reduction.
Sources (1) The NCPERS report as linked, (2) ICIs Recent 53rd annual report on the State of the US Fund Industry - the 2011 Investment Company Fact Book.
