Opinion: With first veto, President Biden fails to learn from California
. In that time, these funds have divested from tobacco and firearms, for example, and restricted plan managers’ ability to invest in fossil fuels.
When lawmakers are allowed to use retirement funds for their own political activism, investment returns suffer, and unfunded liabilities grow at a faster pace. This higher volatility means taxpayers must pay more in pension contributions when investment returns fall short of assumed returns.by both total assets and members, with $508.6 billion in assets and over 2 million members.
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