The global pension crisis is possibly the biggest issue facing policymakers and CEO’s alike today. Earlier this year research showed that US cities and states face a $3.9 trillion gap in their pension funding obligations — an entirely unsustainable funding shortfall. In Chicago, for example, it’s estimated that the pension deficit is equal to 19 years of the city’s tax revenues. However, while under funded pension plans have become a thorn in the side for policymakers, there’s often little thought given to the other aspect of the equation: the size of the sliver economy.
[icahn]
“Baby boomers” now entering retirement age have experienced steady and long-term employment and rising asset...
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