Columbia Business School

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Contingent-COLAs the cornerstone of reform success

What can other states can adopt from the pension reforms at Rhode Island. The most significant item from the pension reform at Rhode Island is the fact the Cost of Living Allowance (COLA) is conditional. Or in other words, the fund will only pay the COLA if it can afford to do so. This simple […]

Amanda WhiteNovember 22, 2013

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CalPERS: “opaquely transparent”

A Columbia Business School case study on CalPERS has criticised the fund for being “opaquely transparent”, with a computation of investment expenses revealing the fund pays three-to-four times its peers in fees. Written by Columbia professor of business Andrew Ang and Columbia CaseWorks fellow, Jeremy Abrams, Californian dreamin’: The mess at CalPERS examines the political, […]

Amanda WhiteJuly 25, 2012

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Columbia students solve governance problems

Financial studies students at one of New York’s most-respected business schools, Columbia Business School, are asked to suggest a new governance model for the State Common Retirement Fund, as its current model of a single trustee is held up to be “the worst example of governance” in a large pension fund in the developed world […]

Amanda WhiteJuly 20, 2011