Public pension funds exist to provide a dignified retirement for millions of workers. But they also offer the public a powerful tool to influence corporate behavior. We are, after all, talking about $6.17 trillion as of December 2024.
Our eyes often glaze over when we are talking about trillions of dollars. To translate that into everyday terms, $6.17 trillion works out to over $18,000 per person in the United States or over $72,000 for a family of four.
What are public pension trustees doing with that public money? What shouldthey be doing? And how can they balance their public goals with their fiduciary duty to support the retirement of state and local government workers?
