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To be our last question. Hi. Hows the reseptember economic struggles impacted how states align with federal support and ability of the federal government toates align with fe support and ability of the federal government to give support . So here is the bottom line. There is a lot of downward pressure economically at all levels of government. And so, states and their political subdivisions, we have seen an increase in request for federal assistance, both inside and outside of the disaster declarations, to help offset the impact on budgets. Ill give you a great example. When it snows, there is ...

Investment policy. And one of the reports found that we researched found that the Stanford Institute for grand jury report that you can stick on the projector. Our clerk will do it. Go ahead. What the Stanford Institute compared was the calpers return to hypothetical low risk portfolio pursued over the same 25 year time period, a negligible the new york times, in 2012 found that Pension Funds investing in more alternative investments, not only have the highest risk levels, but contrary to expectations had poor returns than those that remained in traditional low risk investments. They further f...

Fiduciary to our beneficiaries, not as a fiduciary to the citys general fund. So i would strongly disagree with no. 6. Supervisor chiu i would disagree jqkbu well. Supervisor elsbernd finding 7, again this is like no. 5, studies show that public funds with low risk Investment Policies performed as well or better than those with risk studies. That. Other studies say the opposite but yes this statement is factually correct. Supervisor chiu i would disagree with that statement. I think the suggestion of that statement is that we should be looking at low risk Investment Policies and im not sure if...

Our clerk will do it. Go ahead. What the Stanford Institute compared was the calpers return to hypothetical low risk portfolio pursued over the same 25 year time period, a negligible the new york times, in 2012 found that Pension Funds investing in more alternative investments, not only have the highest risk levels, but contrary to expectations had poor returns than those that remained in traditional low risk investments. They further found that funds that did well with low risk Investment Policies nevertheless tended to switch to high risk model. And the reason for that is the Upjohn Institut...

Finding one, San Francisco Employee Pension fund is current underfunded by more than 2 billion. I would agree, i think suggests that. Madam clerk, are you following us as we did through in finding one we disagree with. Finding 2, the retirement board did not complete a failure absences subsequent to the funding loss in 200809. I mean theres kind of two ways you could go here. If you buy into the grand jurys concept of what a failure analysis is, sure you could agree with that. But having served on the board, analysis of what happened. Did it meet your definition of failure analysis . Maybe not...