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Imagine you are Nicole Hackett and you have just taken over as CIO of the Cook County in early 2008. The pension was already underfunded (27% unfunded liability, with assets only able to pay only 75% of the promised benefit payouts to current employees and retirees) when you joined. The Global Financial Crisis hits just a few months later, leading to a sever worsening of your funding status. A decade later the situation has somewhat stabilized but the plan is still underfunded by over 40%. What do you do? What should your objective be? Imagine you are Nicole Hackett and you have just taken over as CIO of the Cook County in early 2008. The pension was already underfunded (27% unfunded liability, with assets only able to pay only 75% of the promised benefit payouts to current employees and retirees) when you joined. The Global Financial Crisis hits just a few months later, leading to a sever worsening of your funding status. A decade later the situation has somewhat stabilized but the plan is still underfunded by over 40%. What do you do? What should your objective be?
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As the CIO of Cook County facing an underfunded pension plan with a worsening financial situation due to the Global Financial Crisis it is crucial to ... View the full answer
Related Book For
Strategic Management An Integrated Approach
ISBN: 978-1111825843
10th edition
Authors: Charles W. L. Hill, Gareth R. Jones
Posted Date:
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