How can pension fund lag amid market surge?
Re: Aug. 23 article, “Possible change to state pension worries retirees.”
In response to the Texas Tribune article published in the Statesman regarding the financial problems in the State Employees Pension Fund, I am at a loss to understand why the fund is not making money big time.
Since 2009, the stock market has been on the biggest run in history. Billions of dollars in profit are being made by investors. Even mutual funds are showing returns in the 18 to 20 percent range. The growth in the stock market over the past 7 years has been in double digits.
It seems to me that reasonable investments would have returned a rate far greater than 7.5 percent to the fund. SAM MCGLAMERY, AUSTIN