Local government investment pools like Orange County's are run in ways that would make a pension trustee blush. But the Orange County debacle is shining new light on...
Orange County employees' pension assets are in no danger from the bankruptcy filing. Not so their deferred comp savings, some of which were in Citron's commingled pool.
Corporate pension execs watched their compensation slip in 1994, due partly to increased outsourcing of investment management functions. Public fund officials saw gains-but these were modest.
Non-union contractors and minority workers' advocates are successfully using ERISA to challenge state prevailing wage laws and union control of apprenticeship programs.