There is no hope but it is probably good that they are trying.
I say "no hope" because private sector employers and employees are now indentured servants of the public employee pension plans. And as more and more people realize this and flee (how much money did Citadel take out of the tax base when they went to Florida?) those that remain behind will literally be left to foot the bill.
All so the party in power the last 90 years could buy votes with other peoples money.
From Pensions & Investments, April 4:
A team of five University of Chicago graduate students won a Harris School of Public Policy competition with a proposal of nine initiatives designed to save the city of Chicago between $200 million and $400 million a year to shore up its woefully underfunded pension funds.
The team of graduate students — Syed Ahmad, Anthony Beaupre, Liam Gluck, James Karsten and Greg Rudd — was awarded the $10,000 first prize in the inaugural Harris Policy Innovation Challenge, which tasked graduate students to come up with solutions to the city of Chicago’s pension funding crisis.
The team was one of eight that competed in the challenge and one of three finalists that made presentations at an April 3 event at the school.
The finalist teams were judged by a panel that included Dominic Garcia, former CIO of the New Mexico Public Employees Retirement Association and current chief pension investment strategist at CBRE Investment Management.
In his presentation, Ahmad said the team generated 28 different ideas specifically intended to increase funding and growth and decrease liabilities.
“The advantage of taking a simplified view like this is it makes diagnosing root causes and solutions a lot more intuitive,” said Ahmad in his presentation.
“For example, problems in a pension fund must arise from one of three reasons: Either not enough money is being put in, it’s not growing fast enough or too much is being paid out. In the case of the city of Chicago, all three have been true at various points in time. And correspondingly, solutions are going to do one of three things. They’ll either generate revenue, improve returns or decrease liabilities.”....
....MUCH MORE
