Pension Plan
topic on 3 shows · 10 statements across 8 episodes
Sourcery 
Capital Allocators 
TBPN
10 statements about Pension Plan, every show
Friedberg: US private pensions dropped below 8%, while government pensions stayed at 90%
“In 1980, 40% of Americans had a pension plan. Today, less than eight percent. 1980, 90% of government workers had a pension plan. Today, 90% of government workers have a pension plan.”
Friedberg: Government Pension Plans Will Ultimately Bankrupt US States
“These pension plans are poison. The fundamental problem with these pension plans is that they will ultimately end up bankrupting the states, or they will become Ponzi schemes where people get screwed because they're expecting retirement benefits and they don't…”
Kim: Pitching pension plans requires respecting bureaucratic processes and administrative needs
“I have found that pension plan investors, people who don't have a lot of upside, if I make 10 times money for you don't get paid anymore. Your job is hard because you work in an environment that can be bureaucratic, political, disrespectful. Can be. Not all pe…”
Monk: No pension plans today are good at valuing private assets
“I don't know any plans today that are really good at valuing their private assets. It's incredibly difficult to bring real-time valuation into venture capital, private equity.”
Mogelof: Some Wealth Advisors Exceed Sovereign Wealth Funds in Sophistication
“We work with some advisors that I think are more sophisticated than some of the big sovereign wealth funds and pension plans we work with. On the flip side, we work with some advisors that have never allocated to anything other than public equity and public fi…”
Bartlett: Sovereign wealth replaced pensions and endowments in mega VC funds
“I think if you talk to smart endowments or pension plans or stuff, they, they've definitely as fund sizes have gotten to three, four, five, six billion dollars. Like those people have raised eyebrows and maybe voted with their feet to either scale down or walk…”
Puffer: Pension plans' 50-50 currency hedge approach makes no sense
“Often, pension plans have ended up in the so-called no regrets, fifty-fifty hedge half approach, which really doesn't make sense.”
Pension plans are long cash but short human capital for direct deals
“So I'd been trying to build more long-term strategy within our pension plan, but those plans are long cash and short human capital, so it was difficult to get the origination capabilities that we needed And probably more importantly, the value creation and ass…”
Williamson: Endowments prioritize total return over benchmark constraints compared to pensions
“What I found is that, as you know, they're very different investors than pension plans. They're not pension plans. They tend to be much longer term. They tend to be more interested in Total return than other issues like fitting things in boxes and some things …”
Williamson: Intermediation in capital markets degrades long-term investing into short-termism
“Typically what happens is that money goes from a saver to a big asset owner, like a pension plan or an endowment or a sovereign wealth fund, to an asset manager through the publicly traded capital markets into a publicly listed company. In that process, that l…”