The attack on pensions over the past few years ignores the fact that these funds not only provide for a decent retirement after decades of hard work; they serve as a powerful source of capital that drives our economy. In this brief, we shine the light on one small fraction of these investments. Pension fund investment of billions of dollars in construction funds and real estate trusts have brought solid, competitive returns while also providing over a hundred thousand good, family-supporting jobs for communities in the last 15 years alone. In this way, our analysis serves as a perspective on the way workers’ dollars can be harnessed fully for the good of workers and their communities, and shows that strategies to slash pensions are short-sighted and cut off a path toward economic prosperity.
March 16, 2011
