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What’s Important Schwartz Center for Economic Policy Analysis (SCEPA) Director proposes new pension plan for New York City On March 26, 2012, New York City Comptroller John C. Liu joined SCEPA Director Dr. Teresa Ghilarducci, a nationally renowned expert on pension issues, to announce a new pension plan for the city. NYC Personal Retirement Accounts (PRAs) will help provide retirement coverage for the nearly two million workers in New York City without access to retirement benefits through their employers. The NYC PRA proposal is based on Ghilarducci's State GRA plan that is now being considered by the California state legislature. The plan would pool employee and employer contributions into retirement funds that would be managed and invested by the Bureau of Asset Management (BAM), a unit of the New York City Comptroller's Office. BAM is responsible for overseeing the investments of New York City's five employee pension funds. Bernard Schwartz joins NYC Public Advocate Bill de Blasio at Conference Fund for Public Advocacy exploring investing pension funds in infrastructure projects and other vehicles to spur economic growth On March 13, 2012, Bernard Schwartz made opening remarks at a conference entitled "Long-term Liabilities and Re-thinking Pension Investments," hosted by Bill de Blasio, Public Advocate of the City of New York, in partnership with the Fund for Public Advocacy. The conference, which focused on rethinking pension investments, followed previous roundtables that explored pensions and healthcare. Pension funds for public employees are powerful investors with large amounts of assets. New York City alone currently has $115.2 billion in assets under management. Strong investment performance is essential to the long-term financial health of the City. Investments may be targeted to spur economic drivers such as infrastructure improvements, housing development, and new enterprise - and create jobs along the way. This roundtable will explore the benefits, risks, and challenges to implementing new ways of investing. Thirteen/WNET Produces Documentary on N-YHS New York's public television station, Thirteen/WNET, has produced "Treasures of New York: The New-York Historical Society," a film that details the history and mission of one of the nation's foremost research libraries and the transformation of New York's first museum. Bernard Schwartz, who serves as a trustee of both cultural organizations, provided major support for the program and joined WNET president and CEO, Neal Shapiro, and Society president and CEO, Louise Mirrer, and hundreds of guests for the first screening of the film at the Historical Society on December 14, 2011.
Hosted and narrated by Pulitzer Prize-winning author Jon Meacham, the film takes the viewer behind the scenes for an inside look at the days leading up to the 207-year-old museum's grand reopening after its $70 million renovation complete with state-of-the-art installations to connect visitors to history in more ways than ever before imagined. The Atlantic and Bernard Schwartz sponsor conference: A Bank to Rebuild America featuring Sens. Kerry, Hutchison and Warner America's infrastructure is in disrepair - in part because the way we finance it is inadequate. Thus, bi-partisan support for a national infrastructure bank to help close our infrastructure deficit is growing. At this June 8, 2011 event, Sens. John Kerry (D-MA) and Kay Bailey Hutchison (R-TX), co-sponsors of the bi-partisan "Build Act," and a host of other experts convened for a conference on what an infrastructure bank would mean for America, how the bank would work, and why they believe such an institution would create jobs and help American business and labor.
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Bernard L. Schwartz |