For the record, we need to make note of a few media stories of interest: one about TEXPERS, one about our members investment performance, and one about the prospects of a looming retirement crisis.
Yesterday, we distributed a press release about our annual conference, which is wrapping up tomorrow. You can read the entire release here on a “Financial Content” website.
Also, Pension & Investments picked up on our release and asked us for the Performance Study mentioned. We provided them with it and I had a brief conversation with the reporter. That story is located here. It describes the average investment performance achieved by our funds in the last few years. It’s a testament to good management at the local levels.
And finally, the story “Retirement May Be Out of Reach” appeared yesterday in Baseline magazine, about a survey from the Employee Benefit Research Institute indicating that “many workers say they aren’t at all confident about their retirement prospects” and “are dipping into their retirement savings to pay for day-to-day needs.” We’re going to be saying a lot more about retirement security based on some other research we are privy to right now. And we also are going to look into the EBRI report to see whether it breaks down the responses from people in 401(k)s and those in defined benefit programs. Stay tuned to this channel. – Max Patterson