Public Pensions2019-08-23T00:54:56+00:00

Chris Tobe, CFA, is a leading expert on Public Pension Investments.  He is the author of “Kentucky Fried Pensions” currently serves as the Chief Investment Officer of the Hackett Group which consults to Public Pension plans where in 2016, he completed a major investment audit for the $40 billion Maryland System and in 2015 he completed an investment performance review of the $26 billion Utah Retirement Systems.  From 2008-2012 he served as a Trustee and on the Investment Committee for the $13 billion Kentucky Retirement Systems.    From 2008-2009 he was a Sr. Consultant with NEPC and worked with a number of public pension plans in OK,MO, MI, DC.  From 1997-1999 he worked with KY APA Ed Hatchett and published a report on the investments of both KRS & TRS Systems.  He earned an MBA in Finance and Accounting from Indiana University Bloomington and his undergraduate degree in Economics from Tulane University.  He has the taught the MBA investment course at the University of Louisville, and has served as President of the CFA Society of Louisville.  As a public pension trustee in 2010, he completed the Program for Advanced Trustee Studies at Harvard Law School and in 2011, the Fiduciary College at Stanford University. 

In 2011 he consulted to major public DC plans in Texas and Maryland with his firm Stable Value Consultants.   While at AEGON 2001-2008 he worked with Public Plans such as Montana, Pennsylvania, LA County, Cook County, Chicago, Ohio, Vermont, & Memphis.

  • Michigan Association of Public Pension Plans  May  2015 Kentucky Fried Pensions
  • Alternative Assets in Public Pension Plans  Aug 2014   National Association of State Legislators  Minneapolis
  • Kentucky  Rotary March 2013-2014  Kentucky Fried Pensions
  • Public Pensions at  Governing Magazine Conference at  – National Press Club  Washington DC February 2014
  • Federal Reserve Cleveland November 2013 
  • DePaul Univerisity -Truth in Accounting Pension Governance October 2013
  • Ohio State Law School Public Pension Conference
  • IMN’s Illinois Public Employee Retirement Systems Summit  May 2012  Chicago, IL
  • Pension Reform Update  OMNI – New Orleans LA April 2012
  • Reform,Risk,Return for Public Pensions  Buttonwood OMNI – St.Louis MO March 2012
  • Public Trustee Roundtable Reform,Risk,Return – OMNI  Washington DC    November  2011
  •  Target Date Funds   NAGDCA WebCast    July 2010  
  • Stable Value in Target Date Funds September 2008  NAGDCA  Public DC Conference
  • www.nagdca.org/documents/Stable_Value_Final.ppt

 BOOKS

  • Wall $treet Corruption in State & Local Government  TBA  2019
  • Public Pensions – Secret Investments  February 2018 https://www.amazon.com/Public-Pensions-Secret-Investments-Chris/dp/198396011X
  • Kentucky Fried Pensons  –  January 2018 Edition https://www.amazon.com/Kentucky-Fried-Pensions-2018-Chris/dp/1981779027   
  •  
  • Consultants Guide to Stable Value  August 2015   https://www.amazon.com/Consultants-Sponsors-Guide-Stable-Value/dp/1515055345
  • Kentucky Fried Pensions  2013 –  book 232 pages   http://www.amazon.com/Kentucky-Fried-Pensions-Detroit-Edition/dp/1493630318/ref=oosr 

ARTICLES

  • Transparency Times Secret Contracts in Public Pensions  March 2018  https://issuu.com/andyagathangelou/docs/transparency_times_march_2018
  • Lexington Herald-Leader   LTE   Level $ Funding  February 2018  http://www.kentucky.com/opinion/op-ed/article202461134.html 
  • http://www.marketwatch.com/story/pensions-fleeced-by-wall-street-hedge-funds-2014-06-09
  • http://www.marketwatch.com/story/2-big-myths-about-illinois-pension-reform-2013-12-03
  • http://www.marketwatch.com/story/rhode-islands-pension-pirates-2013-10-24
  • http://www.marketwatch.com/story/detroit-is-pension-reforms-whipping-boy-2013-09-24
  • http://www.marketwatch.com/story/shareholders-should-have-more-control-2013-09-10
  • http://www.marketwatch.com/story/wall-street-bailout-for-detroit-2013-08-08
  • http://www.marketwatch.com/story/detroit-not-alone-public-pensions-vulnerable-2013-07-24
  • http://www.marketwatch.com/story/hedge-fund-fee-machines-retirees-beware-2013-07-19
  • http://www.marketwatch.com/story/teachers-put-hedge-funds-in-detention-2013-04-24
  • http://www.marketwatch.com/story/the-lavish-lifestyles-of-placement-agents-2013-03-25
  • http://www.marketwatch.com/story/retirement-savings-need-more-oversight-2013-03-22
  • http://www.marketwatch.com/story/feds-indict-public-pension-placement-agent-2013-03-20
  • Stock Return Rates
  • http://www.marketwatch.com/story/how-much-do-stocks-really-return-2013-02-22
  • http://www.marketwatch.com/story/inconvenient-truths-and-interest-rates-2013-02-15
  • http://www.marketwatch.com/story/municipal-bond-safety-questioned-2013-02-01
  • http://www.maysville-online.com/news/opinion/editorial/rural-areas-also-feel-economic-effect-of-kentucky-state-pension/article_f6645d0b-cd00-5527-b80d-665e47ae36b2.html
  •  RFPs Needed to Prevent Corruption  BY PENSIONS & INVESTMENTS | DECEMBER 10, 2012
  • http://www.pionline.com/article/20121210/PRINTSUB/312109982
  • Impact on Louisville of Kentucky State Pension Crisis  February 6, 2013 http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2212510
  • No RFP’s for Kentucky Pensions- all back room deals.
  • http://news.lawreader.com/2012/09/17/chris-tobe-financial-counselor-questions-practices-of-ky-retirement-systems/
  • Non-Government Entities in Public Pensions? September 10, 2012 http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2144365
  • I killed a Hedge Fund      July 23, 2012    http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2115652
  • Did the SEC and S&P Let 14 States Destroy Their Pensions? Stable Value Consultants Whitepaper June 10, 2012  http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2081150
  • Broken ARC, Broken Promises Stable Value Consultants May 3, 2012
  • http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2050758
  • Report of Independent Counsel to SEC: Placement Agent Abuses at Kentucky Retirement System  http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2112594  March 12, 2012
  • ‘The Value of the Chartered Financial Analyst Designation’ Perspectives from a Survey of Public Employee and Teacher’s Retirement Systems  Financial Analyst Journal, Vol. 55, No. 2, March/April 1999 Christopher Tobe and Kenneth Miller  Kentucky State Auditor’s Office How Should Plan Sponsors Approach AIMR-Performance Presentation Standards
    The Journal of Performance Measurement, Vol. 3, No. 2, Winter 1998/1999
    Christopher Tobe Kentucky State Auditor’s Office (Reprinted in Level III CFA Readings 2000-2002)