References

[1]   Jean-Pierre Aubry, Caroline V. Crawford, Alicia H. Munnell.
State and Local Pension Plans Funding Sputters in FY 2016

[2]   Warren Buffett
Berkshire Hathaway, 2016 Annual Report Berkshire Hathaway, 2017

[3]   Dr. Jeremy Gold Article Archive,
http://www.users.erols.com/jeremygold/papers.html

[4]   Roger Lowenstein. While America Aged. Penguin Press (2008)

[5]   Burton G. Malkiel. A Random Walk Down Wall Street W. W. Norton & Company (2016)

[6]   Milliman. Asset-Liabilty Modeling Study AFM-EPF (2014)

[7]   William F. Sharpe, Robert litterman
Past, Present and Future Financial Thinking Financial Analysts Journal, Vol. 70, No. 6

[8]   Ronald J. Ryan. The U.S. Pension Crisis. The Leading Press (2013)

[9]   Mary Williams Walsh.
A Sour Surpise for Public Pensions: Two Sets of Books
New York Times (2016)

[10]   M. Barton Waring. Pension Finance. Wiley (2011)

[11]   Pension Tsunami Website,
http://pensiontsunami.com

[12]   Unknown Author.
Underfunded Pensions: Causes Cures and Questions
Wharton University (2004)