FUTURE TRENDS: The Great Pension Grab

Walker, Lewis J.
January 1994
Journal of Financial Planning;Jan1994, Vol. 7 Issue 1, p10
Academic Journal
The article focuses on the issue of pension security in the U.S. and the role of financial planners in the betterment of the pension policy. In June, several business-oriented newspapers noted that key cabinet secretaries in U.S. President Bill Clinton's administration had focused on one of the largest pools of capital in the world, roughly $4.3 trillion in pension assets set aside to fund retirement for American workers and entrepreneurs. In his campaign manifesto, Clinton promised to revitalize America's transportation, communications, and environmental systems by using federal money "leveraged with pension fund contributions." For financial planners who understand the precepts of asset allocation and the challenges inherent in achieving real rates of return above inflation and future taxation, an even more dangerous line of thinking exists at high levels. In a June 10, 1993 article, "Does Government Covet Your Pension?," published in Investor Business daily reported that the White House is thinking about broadcasting the Community Reinvestment Act, which mandates that banks invest some portion of their assets in the local community, to include pension funds as well as mutual funds and insurance companies.


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