Examining Appropriateness of Public Pension Fund Investment Risk-Taking
In the most recent report of the Rockefeller Institute’s Pension Simulation Project, Institute researchers examine the question of how much investment risk public pension funds should take. The report sheds light on the rise in investment risk-taking by public pension funds, the regulatory incentives that encourage this risk-taking, and insights from academic research on risk-taking.
State and Local Taxes Decline; Proposed Federal Tax Reform Fuels Uncertainty
State and local government revenue from major taxes tracked by the U.S. Census Bureau declined by 0.5 percent in the second quarter of 2016 compared to a year earlier. This represents a substantial slowing from the 5.0 percent average growth for the four previous quarters, according to the just-released State Revenue Report
. The report also outlines potential behavioral responses by taxpayers in anticipation of post-election federal tax reform, and notes how these responses could affect state tax revenues.