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Public pension funding remains challenging, despite two-year streak of healthy investment returns

SEPTEMBER 27, 2018 | by Anil Naraula | REASON FOUNDATION

“… 'We probably want to temper our enthusiasm when we have a year or two years of strong returns because one thing we know for certain is that there will be challenging years,' said Steve Foresti … Yet another reason to take an individual annual investment return figure with a grain of salt is the so-called 'asset-smoothing' technique used for funding purposes by virtually every public pension plan in the country.”

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