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Public Pension Plans: Evaluation of Economically Targeted Investment Programs: PEMD-95-13

by U. S. Government Accountability Office (
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Current price ₹1,568.00
Original price ₹1,770.00
Original price ₹1,770.00
Original price ₹1,770.00
(-11%)
₹1,568.00
Current price ₹1,568.00

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Book cover type: Paperback
  • ISBN13: 9781289039349
  • Binding: Paperback
  • Subject: N/A
  • Publisher: Bibliogov
  • Publisher Imprint: Bibliogov
  • Publication Date:
  • Pages: 74
  • Original Price: GBP 13.99
  • Language: English
  • Edition: N/A
  • Item Weight: 150 grams
  • BISAC Subject(s): General

Pursuant to a congressional request, GAO reviewed economically targeted investments (ETI), focusing on the: (1) amount and types of ETI being invested by nonfederal public employee pension plans; (2) realization of competitive returns by ETI programs aimed at business development; and (3) economic effects of business development ETI programs.
GAO found that: (1) public pension plans have invested billions of dollars nationwide in ETI; (2) in a survey of large public pension plans, 50 of the 119 respondents indicated that they had invested a total of $19.8 billion in ETI to promote housing, real estate, or small business development; (3) ETI that promote business development include private placements, venture capital investments, and bond, loan, and certificate of deposit purchases; (4) the performance of ETI by the public pension plans studied was generally similar to the returns of comparison investments; (5) the performance of ETI venture capital programs sometimes lagged behind the comparison investments; and (6) no definitive conclusions have been reached regarding the economic effects of ETI programs due to insufficient data.

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