National Conference on Public Employee Retirement Systems

The Voice for Public Pensions


What we learned in Day 1 of General Session at the 2015 Annual Conference

With a focus on economics, here are the Top 10 things NCPERS members learned in the General Session today during Day 1 2015 Annual Conference:

1. Jobs are at the best they've been in many years, Net worth is at an all-time high, and essential dividends (food, energy, debt service as net entities) are at the lowest average percentage of income in 35 years

2. Core inflation remains contained but wage growth begins to increase

3. The European Central Bank as finally instituted a large scale quantitative easing program

4. The US contributes more to global GDP growth than China for the first time since 2006

5. US equities enjoys another good yet volatile year, as corporate earnings and the US dollar rise

6. Best opportunities from a fundamental value perspective- US equities market, non US equity market, emerging market

7. In a resolution between Germany and Greece, both sides will achieve their objectives

8. 83% percent of people live in the developing world

9. We don't want to think of problems (debt, pensions, etc.) solved in one country alone; there are multilateral solutions

10. Liquidity matters to most respondents in the NCPERS/ JP Morgan joint research paper, though it isn't their top concern.