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Public Wealth Maximization: A New Framework for Fiduciary Duties in Public Funds
Paul Rose, in Illinois Law Review Link to more items from this source
[Opinion]
Oct. 25, 2018

"[E]conomic logic suggests that public pension fund trustees owe their duties to the public collectively.... [In] practice, individual pension fund claimants function more like senior creditors than the residual claimants that are the typical recipients of fiduciary duties, [and] the public -- and current and future taxpayers specifically -- are the true residual risk bearers for public pension funds."

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