As public pension funds face underfunding problems across the country, all eyes in the pension fund community kept one eye on results from Stockton, California’s plan to shortchange bond investors while shielding public pensions. Stockton to pay bond investors pennies on the dollar The court ruling allows the bankrupt city in the shadows of Los Angeles to pay bond investors pennies on the dollar while keeping intact pension plans for its public employees. “This plan, I’m persuaded, is the best that could be done in terms of restructuring the city’s debts,” U.S. Bankruptcy Judge Christopher Klein was quoted by Bloomberg…
Don't Touch Government Pensions Judge Says In Stockton Ruling
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.
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