Such funds are critical for the retirement security of the public-sector workforce and are sometimes analyzed solely from the perspective of financial returns. Roughly 6,000 state and locally administered public pension funds provide retirement security for 11.2 million current retirees, in addition to 14.7 million future beneficiaries who are currently working-a combined total that is 14 percent of the US workforce (PPD 2022). As of 2022, US state and local public pension funds-trusts that hold portfolios of financial assets meant to sustain retirees-comprised $4.5 trillion in assets and distributed $323 billion annually. Public pension funds are a cornerstone of the financial system. ![]() ![]() Because climate change is such an enormous systemic risk, states that require climate risk disclosure and integrate climate risk assessments into state budgeting and investment practices will protect the economic beneficiaries of public pension funds: the public-sector workforce, both present and future.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |