Post Gazette – Allegheny and Westmoreland counties are trying to reduce their pension funds’ exposure to the volatile stock market through a relatively new type of investment based on life insurance policies.
The two governments’ modest investments in life settlements — buying and selling the rights to the death benefits paid by life insurance policies covering wealthy individuals — is not common in the pension fund world, where real estate, hedge funds, private equity and other alternative investments have been mainstays for years.
