Authored by Simon Black via SovereignMan.com,
There may perhaps be no other group of investors that’s more DESPERATE today than pension funds.
Pensions, of course, are the giant funds responsible for paying out retirement benefits to workers.
The idea is that both the employer and the employee typically contribute a set percentage of the employee’s salary throughout his or her career with the promise that, upon retirement, he or she will receive a fixed monthly payment.
Many state and local...