Recent trends on Wall Street, where stock prices have been jitterbugging for a while now, do not auger well for public pension funds with fiscal years ending June 30. Most funds are clinging to an 8 percent projected rate of return, but the S&P 500 closed last Friday with a gain of barely 3 percent for the previous 12 months. I get into the weeds of the issue as it affects one of the nation's largest funds, the New York State Teachers' Retirement System, in this blog at Newsday.
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