- Foundation for the Advancement of Monetary Education - https://fame.org -

Phony Risk Management

The phony definition of the so-called “riskless rate-of-return” results in a gross misallocation of pension plan assets on which Wall Street firms and banks garner exorbitant and unearned fees. If the putative beneficiaries¬† receive the benefits and pensions they have been promised and which they have earned, it will be a happy accident. Meanwhile the Wall Street firms get their fees NOW. Estimated Wall Street fees on the nearly $10 trillion of U.S. defined benefit pension plan assets sum to about $100 billion per year.

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