BY DENNIS HOLLIER The state got just what it was expecting in its Christmas stocking. Unfortunately, it was another lump of coal – more bad news about the state of Hawaii Employee Retirement System, which covers both state and county employees. In its five-year report, the actuary firm of Gabriel Roeder Smith & Company claims…
Tag: Kalbert Young
The Billion Dollar Gamble: State Investment
BY DENNIS HOLLIER Photo: istockphoto.com What a difference a billion dollars makes. Until recently, the state treasury – officially, the Treasury Management Branch of the Financial Administration Division of the Department of Budget and Finance – has operated in relative obscurity. With its staff of seven or eight employees, the treasury acts as cash manager…