Capital and Main
Call it the tale of two pension crises. In June, the Los Angeles Times’ business pages looked at the looming retirement savings disaster caused by the nearly 40-year transition from traditional employer-sponsored defined-benefit pensions to individual 401(k) plans — a sea change in retirement insecurity, it noted, that “has been a failure for all but the wealthiest Americans.”
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Philly.com - The Philadelphia Inquirer/Daily News
A big chunk of money coming out of Pennsylvania is financing the dog siccers and the pepper sprayers -- including tax dollars. It turns out that one of the major investors in Energy Transfer Partners is...the Commonwealth of Pennsylvania. Records show that as of this June, the commonwealth -- through its pension funds -- owned some 5 million shares of ETP -- valued at some $192 million. That's more than any other governmental or quasi-governmental agency.