Cook County Treasurer's Office - 4/17/2020
Long before the pandemic, public pension fund managers had invested in risky assets to overcome chronic underfunding with outsized returns in the stock market, the Washington Post reports. Now those returns have evaporated.
"It's like a rubber band that's been stretched too thin," remarks Maria Pappas, the treasurer for Cook County. "What I'm telling you is, the rubber band is about to break."
Read the story.