By Colin Lloyd Over the period from 1915 to 2014 the return on U.S. equities was an annualized 11.5 percent, while the return on government bonds averaged 4.3 percent. The longer-run average S&P 500 return is nearer 9 percent, but during the past decade it has exceeded 14 percent. U.S. bonds have also rallied, returning around 2 percent. Yields across most developed … [Read more...] about The Pension Fund Apocalypse