Public employee pension plans tend to be more generous than private ones. Whereas many pensions use 1% in their formulas, the nation’s largest pension plan, the California Public Employees’ Retirement System (CalPERS), pays 2% in many instances.2In that case, if an employee had 35 years o...
Christopher Ailman:I always said I’d come back to Sacramento for one of two jobs: California Public Employees’ Retirement System [CalPERS] or CalSTRS, because they are meaningful to me. My sister, sister-in-law, and now my daughter are all teachers...
So, for the 30% tax bracket used in the illustration, you’d be able to invest $1,370 in a tax-deferred account and then pay taxes upon withdrawal years later. Now what rate of return would I need to end up with the same net income in retirement? Assuming I annually take out 4%...
Our starting point, grounded in the literature, is that having a positive impact on sustainability outcomes in the real economy requires financial institutions’ actions, directly or indirectly, to: reduce (increase) the cost of capital for firms’ (un)sustainable activities; increase (reduce) their...
North Carolina requires all its state employees and teachers to pay 6 percent of each paycheck into a retirement fund over the course of their employment with the state.
One can argue my formula for calculating the value of a pension is overstated. After all, the pension's value is dependent on the terminal value, and we all eventually die. Therefore, if you are particularly pessimistic, you can apply a discount to the final calculation. ...
but the neat trick was that Wachovia sold the debt to investors. Hundreds of millions of dollars of Stuy Town’s equity is actually held by a Korean investment fund and CALPERS, the giant California retirement fund, among others. Wachovia also bundled Stuy Town’s $3 billion mortgage in a...
Christopher Ailman:I always said I’d come back to Sacramento for one of two jobs: California Public Employees’ Retirement System [CalPERS] or CalSTRS, because they are meaningful to me. My sister, sister-in-law, and now my daughter are all teachers, so I hav...