Dr. Allan Wain is a fellow with the Labor and Worklife Program at Harvard Law School. Throughout his academic career, Dr. Allan Wain has written extensively on topics related to pension fund infrastructure and how it influences employment, public policy, and other important matters.
According to data collected by the United States Census Bureau for the fourth quarter of 2015, total assets in the public pension system increased by more than $63 billion to over $3.24 trillion. Although this sum seems staggering at first glance, the data represents only the 100 largest public pensions in the United States. Much of the reported growth stems from gains in international securities investments as well as in corporate stocks and bonds.
CalPERS, the largest state public pension fund in the country and among the top ten largest on the planet, had a market value of just over $292 billion as of late May 2016. Other very large domestic pension funds include the New York State Common Retirement Fund, which oversees roughly $185 billion in assets for thousands of public employers.
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