Executive Director Stensrud Addresses Myths and Misconceptions
As of the end of the fourth quarter of 2021, the Federal Reserve calculated that U.S. public pensions held $5.85 trillion in assets. This staggering collective value alone places a target on pension systems from a myriad of individuals and groups that continue to pursue ways to convert defined benefit pension plans to defined contribution plans. While these efforts have been successful in the private sector, public pension plans have largely avoided this conversion.
Sometimes, these efforts to unravel public pension plans involve the pandering of myths and misconceptions designed to portray defined benefit pensions in an unfavorable way and sway opinions in their favor. When dangerous and misinformed myths and misconceptions surface in the media or in SERS’ own experience, Executive Director Richard Stensrud addresses the topic at a Board meeting and explains why they are false and misleading.
First in the series are the following topics:
- Investment Managers and Asset Valuations
- Investment Staff Compensation
- SERS’ Members Retire Young and Receive Lavish Pension Benefits
- Ohio Public Pensions are Underfunded
Our Myths and Misconceptions page will be regularly updated as these topics are addressed.