Fairfax Reveals No. 1 Relative as Liabilities Soar: Muni Credit
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Fairfax County, Virginia, credits Bridgewater Associates LP, the world’s largest hedge fund, with helping it generate a 19.3 percent annual return since 2009, the best performance among the biggest U.S. public pension systems.
Even so, the second-richest U.S. county is coming up short in funding its retirement promises. Fairfax County, home to 10 Fortune 500 companies, has seen its pension gap more than double since 2005, underscoring how even the most affluent communities are struggling to keep pace with retiree obligations.