Op-ed by Dan Secrist, includes “…The fees are only one part of the story. Gambling on Wall Street has cost our pensions over $4 billion in the past five years. The highly-compensated staff deciding how to invest our pensions have consistently delivered over-priced underperformance that trailed far behind a generic stock/bond index fund. That’s why we hear the oft-repeated mantra that pensions 'can’t invest their way out of' underfunding – it’s because the people who actually manage the pensions don’t want the public to pay attention to how they’re not up to the job we’ve hired them to do.”