Labor's capital: putting pension wealth to work for workers

Pension fund assets are the largest single source of investment capital in the country. Of the roughly $15.5 trillion in stock equity in the U.S. economy, $3.1 trillion, or 20.1%, is directly held by employee pension plans. Pensions own $8.5 trillion in total assets. These vast sums were generated b...

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Published inDollars & Sense no. 261; pp. 28 - 30
Main Author Scharf, Adria
Format Newsletter Magazine Article
LanguageEnglish
Published Somerville Economic Affairs Bureau 01.09.2005
Subjects
American federation of labor and Congress of industrial organizations
Company business management
Compensation and benefits
Economic aspects
Government employees
Industrial pensions
Investments
Management
Pension funds
Pension funds and funding
Retirement
Workers
United States
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Abstract Pension fund assets are the largest single source of investment capital in the country. Of the roughly $15.5 trillion in stock equity in the U.S. economy, $3.1 trillion, or 20.1%, is directly held by employee pension plans. Pensions own $8.5 trillion in total assets. These vast sums were generated by-- and belong to-- workers; they're really workers' deferred wages.
AbstractList Tired of having their pensions gambled away in high-risk investments by governmental leaders and no worker oversight of investments; states and unions have begun to embrace a new strategy. The AFL-CIO was a cornerstone in changing the way pensions were dealt with. By investing in local low-income housing projects, local infrastructure and local loan programs, the AFL-CIO was preserving their members' pensions in a safe investment while putting money back into the community. This idea was followed by the California Public Employees Retirement System (CalPERS) who invested in the single-family housing market which helped create new jobs, homes and boosted local economies while making a sound investment. These "economically targeted investments" (ETIs) have helped communities maintain pensions while investing in the future of the community, rather than the former policy of putting retirement funds into shaky Wall Street.
Pension fund assets are the largest single source of investment capital in the country. Of the roughly $15.5 trillion in stock equity in the U.S. economy, $3.1 trillion, or 20.1%, is directly held by employee pension plans. Pensions own $8.5 trillion in total assets. These vast sums were generated by-- and belong to-- workers; they're really workers' deferred wages.
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Snippet Pension fund assets are the largest single source of investment capital in the country. Of the roughly $15.5 trillion in stock equity in the U.S. economy, $3.1...
Tired of having their pensions gambled away in high-risk investments by governmental leaders and no worker oversight of investments; states and unions have...
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SubjectTerms American federation of labor and Congress of industrial organizations
Company business management
Compensation and benefits
Economic aspects
Government employees
Industrial pensions
Investments
Management
Pension funds
Pension funds and funding
Retirement
Workers
Title Labor's capital: putting pension wealth to work for workers
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