(Bloomberg) — U.S. public pensions suffered a double blow from the coronavirus pandemic: losing hundreds of billions of dollars in the equity market rout just as unprecedented revenue losses piled up for the governments that pay into the funds.Funding levels will be under stress because of the losses in the financial markets, and at the same time, governments may struggle to make up the difference as the economic shutdown to stem the outbreak slashes their income.In March, Moody’s Investors Service estimated that public pension investment losses were nearing $1 trillion. During the first quarter, the S&P 500 Index plunged the …read more
Source:: Yahoo Finance
