The Pain and Possibility of Pensions
A roundtable discussion with New York City Comptroller Brad Lander, CalPERS board member and SEIU Local 521 President Mullissa Willette and Evan Sutton of #TeslaTakedown.
Pensions are often overlooked, but they play a significant role in shaping the economy. The largest public pension fund in the country, CalPERS, manages approximately $575 billion in assets.
In New York City, five pension funds hold more than $295 billion in assets, making them major institutional investors. This money comes with power and contradictions, as pensions are designed to protect workers but can also undermine jobs or accelerate the climate crisis.
Pensions make your eyes glaze over, that’s by design. The less attention they get, the more quietly Wall Street can profit from them.
These massive funds have a significant impact on the economy, with CalPERS and New York City's pension funds being among the largest in the country.
Author's summary: Pensions hold significant power and contradictions in shaping the economy.
- CalPERS manages approximately $575 billion in assets.
- New York City's five pension funds hold more than $295 billion in assets.