Public pensions play catch-up by taking on more risk

03/9/2010 | NYTimes.com

While private companies are moving their pensions into safer investments, states, cities and other public pension funds are taking on more risk to make up for investment losses during the recession. "In effect, they're going to Las Vegas," said Frederick E. Rowe, the former chairman of the Texas Pension Review Board. "Double up to catch up." Public pensions claim they are trying to diversify their holdings.

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