NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Portfolio Allocation for Public Pension Funds

George Pennacchi, Mahdi Rastad

NBER Working Paper No. 16456
Issued in October 2010

---- Acknowledgements -----

We are grateful to Wilshire Associates for allowing our use of their data. Valuable comments were provided by Jeffrey Brown, Stephen Zeldes, and participants of the National Bureau of Economic Research State and Local Pensions Conference. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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