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Burton Malkiel Talks About Efficient Markets
In this video sponsored by Vanguard, Burton Malkiel, Princeton professor and author of "A Random Walk Down Wall Street," talks with RIJ editor Kerry Pechter about what "efficient market" means to him. The 10th edition of "A Random Walk" has just been published.
Industry Views are special reports that are sponsored and independent from RIJ's editorial content.
October 20, 2011, Research, News
Retire the stereotype of the six-figure public-sector pension, say academics
About two-thirds of state and local workers leave public employment with little or no pension, according to a new research brief from Alicia Munnell and colleagues at the Center for Retirement Research at Boston College.
The retired cop with a $100,000 pension has joined the Cadillac-driving welfare mom in the pantheon of social stereotypes that Americans love to resent. But the rich cop, like the rich welfare mom, is the exception not the rule, according to the staff of the Center for Retirement Research at Boston College.
That’s because only a minority of public employees have enough longevity to reap the maximum pension.
There is a “widespread perception is that state and local government workers receive high pension benefits which, combined with Social Security, provide more than adequate retirement income,” write Alicia Munnell, Jean-Pierre Aubry, Josh Hurwitz and Laura Quinby in a new research brief.
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