It's the end of June. Do you know where your pension is?
After the first quarter's pension fund performance there was this important news that connected the dots between the pension fund's recent performance and the upcoming parking asset monetization. Basically the worse the state of the pension fund, the greater $$$ needs to come from the parking assets for it to be worth doing at all. As the story pointed out, already from March data it was obvious that the city needs more than it was originally planning on.
What will the iteration of that news story say when we get data from the pension funds' 2nd quarter performance? DJIA actually went up a few percentage points over the course of the 1st quarter. That does not bode well for how the pension funds did in the 2nd quarter when the DJIA actually plummeted. Normally the city wouldn't make the pension fund data available for roughly 6-7 weeks after the end of the quarter ... which would be later in August when the pension board meets. I have a feeling that since the city for a limited time has a vested interest in making known the dire state of the pension system, so as to facilitate less resistance to the parking asset monetization, it may give us the bad news a lot sooner.