SACRAMENTO — It feels a little surreal to be writing about benefits from the capital of one of the most fiscally dismal states in the union. In fact, this morning's Sacramento Bee featured a report from the state's two public pension funds. Seems they both raked in a combined $60 million over the last fiscal year, their best performance in decades.
But the better-than-20 percent return, certainly nothing to sneeze at, isn't nearly enough to prevent the public retirement plans from remaining woefully underfunded. (And you can forget about asking for a great contribution from public employees. We all know how that turns out.)
Despite that black cloud looming in the background like some kind of catastrophic debt ceiling, the mood here at the BenefitsConnect Summit is decidedly upbeat. Hell, it's downright bullish — among brokers and carriers alike.
Recommended For You
Everyone I've met can't stop talking about how great business has been. One former cover guy told me his numbers are up more than 40 percent over last year. Health reform? Who cares when the feds can't even figure out their own legislation. Bad economy? We've heard plenty of evidence — both statistical and anecdotal — that employee benefits aren't going anywhere. And from what I've seen and heard these past couple of days, neither are brokers.
Another thing this small but growing conference highlights is the evolving roles of both technology and communication in the lives of brokers and their clients. And while we've made incredible strides in the last half decade or so alone, don't let yourself fall into that trap of relying on the one to service the other. Because no technology in the world can ever replace an old fashioned phone call or office visit.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
