The AIF Institute Names Sharmila Kassam as Executive Director
Former Deputy CIO of Texas ERS will lead the AIF Institute s Centers of Excellence launch in 2021
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NEW YORK, Jan. 14, 2021 /PRNewswire/ AIF Global announced today at its 2021 Annual Investors Meeting the appointment of Sharmila (Shar) Kassam as the Executive Director of the AIF Institute the educational resource arm of AIF Global, which brings customized education to institutional investors globally. AIF Global Founder and CEO Brant Maller and AIF Institute President Melissa Waller made the announcement to a virtual audience of hundreds of institutional investors attending the annual meeting in tandem with the unveiling of the AIF Institute s first of three Centers of Excellence.
State and local pension funds with ‘infinite’ amortization periods increased 50% from last year.
While the majority of the 99 state and local pension funds reporting to the Texas Pension Review Board (PRB) have held their ground during the pandemic, there was a sharp rise in the number of troubled funds from last year, according a report from the Texas Association of Public Employee Retirement Systems (TexPERS).
The PRB, which oversees all public retirement systems in the state, considers any pension fund with an amortization period of 25 years or less to be healthy and those with amortization periods of 40 years or more to be less healthy. And the most troubled, or least healthy, funds have so-called “infinite” amortization periods, which means they will never have enough money to pay the current and future benefits they owe. The PRB defines the amortization period as the length of time needed to pay for the unfunded actuarial accrued liability.