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Central States Pension Reduction Plan Letter announces Cuts - October 2015
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<blockquote data-quote="Inthegame" data-source="post: 1867872" data-attributes="member: 37112"><p>The money to pay the expenses for educational conferences comes from the Trust Funds they are representing.</p><p>Hawaii is too extravagant for our Funds trustees, but that's the choice our guys have made. On the other hand theses venues offer opportunities to network with numerous agents that could increase fund values. (sounds a bit familiar)</p><p>Think of it like this; a small to average pension fund of say $500 million in invested assets has a assumption of 7.5% annual ROI. If union trustees (who receive <strong>no</strong> compensation from the funds they represent, but can be sued for not acting prudently, which includes failing to educate oneself) meet an investment manager who historically exceeds that ROI and they move their account to that manager, they could easily pay back their fund a hundredfold for the cost of their attendance at that conference. In my above scenario a 7.6 % one year ROI (one tenth of a pct increase over their assumed 7.5%) would be a difference of + $500,000 for their funds.</p><p>Many would think that's worth the trip.</p></blockquote><p></p>
[QUOTE="Inthegame, post: 1867872, member: 37112"] The money to pay the expenses for educational conferences comes from the Trust Funds they are representing. Hawaii is too extravagant for our Funds trustees, but that's the choice our guys have made. On the other hand theses venues offer opportunities to network with numerous agents that could increase fund values. (sounds a bit familiar) Think of it like this; a small to average pension fund of say $500 million in invested assets has a assumption of 7.5% annual ROI. If union trustees (who receive [B]no[/B] compensation from the funds they represent, but can be sued for not acting prudently, which includes failing to educate oneself) meet an investment manager who historically exceeds that ROI and they move their account to that manager, they could easily pay back their fund a hundredfold for the cost of their attendance at that conference. In my above scenario a 7.6 % one year ROI (one tenth of a pct increase over their assumed 7.5%) would be a difference of + $500,000 for their funds. Many would think that's worth the trip. [/QUOTE]
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Central States Pension Reduction Plan Letter announces Cuts - October 2015
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