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Re: Cowell: Pension fund down 19 percent

htkirbys — Sat, 24 Jan 2009 17:08:07 -0500

It is true that many people have invested unwisely in the past eight years. That includes those involved in the management of the State Employees Pension Fund.

Re: Cowell: Pension fund down 19 percent

greenswamp — Sat, 24 Jan 2009 11:10:35 -0500

Eight years, that is a familiar time span. In the past eight years, our fund and our children's funds have dropped. We invest with a very conservative brokerage firm. It would be very hard to get around a loss while invested in funds. The only bump in the last eight years "was" real estate.

Re: Cowell: Pension fund down 19 percent

htkirbys — Sat, 24 Jan 2009 10:43:47 -0500

"these same critics would be complaining that the fund had grown too slowly."

Too slowly? It has not grown at all in eight years. It has lost money. To judge performance over two or even three years might be unfair. Eight years and no gain indicates bad judgment.

Re: Cowell: Pension fund down 19 percent

greenswamp — Sat, 24 Jan 2009 10:04:39 -0500

The pension fund is down due to a national economic downturn. This drop is a result of the diversified investments in the fund, some agressive, some safer. Had the fund not carried some agressive investments, these same critics would be complaining that the fund had grown too slowly. As our national government has been in a mostly Republican stranglehold for the last eight years, if there is any blame to pass around for this, it should fall at their feet. I'll take the mostly Democrat-run state management,thank you. While not perfect, it sure seems better in comparison.

Cowell: Pension fund down 19 percent

IKWUM — Fri, 23 Jan 2009 22:32:05 -0500

The State Pension Plan still has too much of their funds invested in equities. If you believe this $17 billion loss was significant, just wait for the market to lose another 3,000 to 4,000 points. Remember 11/4/2008....the day the Obama stock market crash began. The stock market value is merely a reflection on the future economy under democratic leadership.

Re: htkirbys - Come out from behind the curtain

htkirbys — Fri, 23 Jan 2009 21:45:00 -0500

Who is Charles Heatherly?

Re: Cowell: Pension fund down 19 percent

saltydawg1 — Fri, 23 Jan 2009 21:43:23 -0500

that weasel, mike easley is to blame!!!

Re: htkirbys - Come out from behind the curtain

htkirbys — Fri, 23 Jan 2009 21:19:18 -0500

It's a simple fact of simple arithmetic. The state pension fund is worth less than it was eight years ago.

htkirbys - Come out from behind the curtain

cabotdog — Fri, 23 Jan 2009 18:53:54 -0500

Htkirbys sounds remarkably uninformed, ridiulously passionate in his distaste for Mr. Moore, and quite the fan of Mr. Boyles.

Hmmm, there is something familiar sounding about all this.

Could htkirbys be Charles Heatherly, a long time Moore critic and former employee of Boyles?

The old dog needs to find a new bone. The pension fund shines when compared to its peers in down markets.

Re: Cowell: Pension fund down 19 percent

Dmchenry — Fri, 23 Jan 2009 18:45:30 -0500

Lost in all this dialogue is the fact that although the state legislature is exempt from paying any social security tax for its employees as it was to pay into its retirement account, it has not and currently pays no matching percentage into what has become an entirely worker funded retirement plan.

All this back and forth about Richard Moore is wasted breath. What other employer do you know gets away with this type of behavior? IF they were matching the STate Employees mandated contribution (yes they have no choice in contributing or how much to contribute) the fund would be in fine shape.

Re: Cowell: Pension fund down 19 percent

AquaMan — Fri, 23 Jan 2009 17:25:47 -0500

lot of defense stocks in the portfolio

Re: Cowell: Pension fund down 19 percent

htkirbys — Fri, 23 Jan 2009 16:46:19 -0500

Yes, facts are facts. And the fact is that there is less money in the fund than there was eight years ago.

Re: Cowell: Pension fund down 19 percent

Taxpayer — Fri, 23 Jan 2009 15:36:41 -0500

What's not said here is the justification (given such great losses) of Cowell's predecessor doubling the salaries of the Chief Investment Officer and two Investment Directors just prior to leaving office.

Re: Cowell: Pension fund down 19 percent

Isaac136 — Fri, 23 Jan 2009 14:38:39 -0500

I guess you're having a hard time, some of you, with the fact that our state pension fund is either the healthiest or the second healthiest (I forget which) in the country. Go ahead and hate on Richard Moore all you want to, but facts are facts.

Re: Cowell: Pension fund down 19 percent

Isaac136 — Fri, 23 Jan 2009 14:36:38 -0500

She is. She's also smart and capable and will make this state proud.