Guest: Ross Bowen
Host: Angela Bernhardt
Ross Bowen, an actuary, visited WRC and gave us an overview of how the MN State pensions are underfunded. Ross took us through how the investment plan that the State of MN has done is currently underfunded and that there is an $18 billion pension deficit.The State of Minnesota sets optimistic investment returns of 8-8.5% which from his point of view is far to high and forces the state to invest in high risk investments. He also asserts that expecting high returns means that the state sets aside less money and contributes less, which could result in a severe shortage and inability to fund the pensions.
Ross became interested in this when he married a teacher and took an interest in the teacher's pension plans. If you are interested in learning more, please reach out to Ross!
952-454-4406