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Public pensions may be next crisis, PGIM's Hunt says

Pension obligations are a worry as pressure on municipalities and states could intensify in a downturn when local tax revenues decline, says PGIM CEO David Hunt.

By Katherine Chiglinsky | Updated on February 12, 2018
Pension written on dial indicator Pensions for public employees may be at risk. (Photo: Shutterstock)

(Bloomberg) – What’s on the list of concerns for a man who runs a $1.2 trillion asset manager? Swelling shortfalls in U.S. public pensions, according to PGIM Chief Executive Officer David Hunt.

“If you were going to look for what’s the possible real crack in the financial architecture for the next crisis, rather than looking in the rearview mirror, pension funds would be on our list,” Hunt said Friday in an interview.

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