The Pain and Possibility of Pensions
A roundtable discussion with New York City Comptroller Brad Lander, CalPERS board member and SEIU Local 521 President Mullissa Willette and Evan Sutton of #TeslaTakedown.
Pensions are often overlooked, but they play a significant role in shaping the economy. The largest public pension fund in the country, CalPERS, manages approximately $575 billion in assets. In New York City, five pension funds hold more than $295 billion in assets.
- CalPERS: $575 billion in assets
- New York City pension funds: $295 billion in assets
Pensions are designed to protect workers from an uncertain future, but their investments can undermine jobs or accelerate the climate crisis.
Author's summary: Pensions hold significant economic power and contradictions.