Alabama Pensions’ Troubled Bet: Lobster Rolls and Star Wars

Alabama pensioners are now the owners and operators of iPic Entertainment, a loss-making chain that helped usher in the era of dine-in theaters

Alabama’s retired teachers and other pensioners could use a huge box-office haul for the latest installment of Star Wars, which hit big screens last week. Their pension fund is betting on it.

The Retirement Systems of Alabama has sunk upward of $221 million into a 16-location, boutique theater-and-restaurant chain, recently wresting control of the company in bankruptcy court.

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