US Public Pensions Will Eventually Spin Out Into Independent Entities
Chris Ailman · Chris Ailman – CalSTRS' Venerable CIO (Capital Allocators, EP.86) · Feb 11, 2019 · at 9:49
Chris Ailman, CIO of CalSTRS, discusses why US public pension asset management remains tied to state government and predicts eventual structural reform.
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“And I've often said that at some point someone's going to look at this and say, hey, this is crazy, a flawed model. We need to move it external and operate it. Oddly enough, Delaware is the only place that you've seen that that happened in the eighties and nobody followed suit. There have been a few places, Missouri, Oregon, that talked about it, but then didn't go full throttle with it. So I think at some point there will be a recognition and just kind of a wake-up moment that, well, yeah, that absolutely makes sense. You privatize it, but we're not there yet”
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