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Thread: AS I stated Major pension crisis starting in 2017

  1. #321

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    Los Angeles Unified School District Unfunded Retiree Health Benefit Liability Nears $15 Billion


    http://www.foxandhoundsdaily.com/201...rs-15-billion/



    Connecticut’s high unfunded pension liabilities leads to credit downgrade

    S&P Global Ratings lowered its rating on Connecticut's approximately $18.5 billion of general obligation debt outstanding to A from A+ in part because of its high unfunded pension liabilities.


    http://www.pionline.com/article/2018...edit-downgrade

  2. #322

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    The War Between Public Pensioners And Tax Donkeys Is Heating Up

    https://www.zerohedge.com/news/2018-04-20/war-between-public-pensioners-and-tax-donkeys-heating

    Public pension obligations are rising so fast that even repeated tax increases can't keep up.

    This is setting up a second front in the war between entitled Baby Boomers and younger taxpayers who pay most of the federal and local taxes. Public pensioners are a subset of the entitled Baby Boomers, but their pensions can't be paid with borrowed money like Social Security and Medicare; public pension obligations come out of local and state taxes, and as those obligations soar then public services must be slashed and taxes jacked up by annual double-digit increases.

    So there is a war brewing between public pensioners and the Tax Donkeys: the Unprotected who pay local property taxes on their homes, state and local taxes on their incomes, sales taxes on their purchases, junk fees on local government services, and so on.
    What's the Frequency, Kenneth?

    432Hz

  3. #323

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    Dysfunctional CalPERS Board Distracted By Petty Squabbling As Fund Lurches Toward Bankruptcy

    https://www.zerohedge.com/news/2018-04-29/dysfunctional-calpers-board-distracted-petty-squabbling-fund-lurches-toward

    As things stand now, CalPERS, once more than 100 percent funded, now has scarcely two-thirds of what it would need to fully cover all of the pension promises to current and future retirees. And that assumes it will hit a lofty investment earnings target of 7% per year, which many authorities have criticized as too optimistic.

    At some point, the board members will need to band together to make an unpopular decision (cutting benefits) that could risk all of them being thrown out by the public union employees who elect them.

    But as long as this squabbling continues, the already remote likelihood of the board embracing radical change continues to shrink.
    What's the Frequency, Kenneth?

    432Hz

  4. #324

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    Quote Originally Posted by redraspberry View Post
    As things stand now, CalPERS, once more than 100 percent funded, now has scarcely two-thirds of what it would need to fully cover all of the pension promises to current and future retirees. And that assumes it will hit a lofty investment earnings target of 7% per year.
    Can't they raid the taxpayer for the money.

    What entitled bailouts & bonuses to banksters but not to state pension funds?

  5. #325

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    Quote Originally Posted by Silvercoin View Post
    Can't they raid the taxpayer for the money.

    What entitled bailouts & bonuses to banksters but not to state pension funds?
    I wonder how well the Fed pensions are funded?
    What's the Frequency, Kenneth?

    432Hz

  6. #326

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    Quote Originally Posted by redraspberry View Post
    I wonder how well the Fed pensions are funded?
    They have Plan B which is to get $400,000 per speech from the same institutions they bailed out after they retire from the Federal Reserve. e.g Alan Greenspan, Ben Bernanke.

    A couple of rounds of that back door bribery scheme and they are set for retirement!

  7. #327

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    A bit of funny stuff..

    When Bernanke is questioned on where the money will come to pay for bank bailouts in 2008, he accidentally let's the truth slip out.

    The Congressman asks if bailouts will come from more borrowing and spending and Bernanke accidentally answers "Correct"

    It's at 1:26 (1hr 26 mins into the video :

    https://m.youtube.com/watch?v=bPHuFVE07eA

  8. #328
    Join Date
    Mar 2009
    Posts
    11,770

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    Not much in the news about the pensions in crisis, seems like other stuff grabbing the headlines these days. Any new news?
    ...be your own Health Care System... grow your own and eat well

  9. #329

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    Diocese of Providence’s Teachers & Staff Pension Fund Faces Failure, May Impact Thousands

    According to Diocesan documents secured by GoLocalProv, the pension fund for a large number of teachers and staff at Catholic schools in Rhode Island is economically unstable.
    “The unfunded liability of the Lay Employees’ Retirement Plan will continue to grow and will become untenable in the near future,” states a recent Diocesan document.

    http://www.golocalprov.com/news/excl...-faces-failure



    U.S. state reforms not enough to solve pension problem -Fitch

    NEW YORK, June 21 (Reuters) - Recent reforms enacted by U.S. states to reduce their pension burdens do not do enough to ease the growing public employee retirement funding crisis facing many of the governments, Fitch Ratings said in a report on Thursday.

    Governors in Colorado, Minnesota and Illinois were among those to sign legislation in 2018 that cut public employee retirement benefits, increased contributions or took other measures to reduce their states’ unfunded pension liabilities.

    https://www.reuters.com/article/usa-...-idUSL1N1TN10R

  10. #330

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    Fort Worth's pension fund in jeopardy

    Fort Worth and its employees particularly police and firefighters, have sounded the alarm on its pension plan problems for years.


    Time is running out to fix the city’s $3 billion shortfall.

    http://www.fox4news.com/news/fort-wo...nd-in-jeopardy

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