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Thread: AS I stated Major pension crisis starting in 2017

  1. #331

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    My nephews friends parents just received a letter their pension is done. The fund is broke and can no longer make payments. Now in their late 60's and early 70's they have togo back to work, find new jobs.


    Everything is smoke and mirrors....Be thankful your fiat is getting you more physical oz's to stack.


    Everything is fine the Banks and wall street are earning big. Screw main street



    Banks soar as earnings flood in, and some see more gains to come

    Financials surged on Monday following strong Bank of America earnings, with peers such as Citigroup, Wells Fargo and Goldman Sachs rallying on the day. As investors navigate the onslaught of big bank reports and volatility in the financial sector, some market watchers are anticipating further upside ahead.

    https://www.cnbc.com/2018/07/16/bank...s-to-come.html
    Last edited by Silver and Gold; 07-17-2018 at 07:29 AM.

  2. #332

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    Retired Teamster asks Congress to save troubled pension funds

    Many of those plans, which cover union workers in fields such as trucking and construction and receive contributions from multiple employers, are on the verge of crashing financially.


    https://www.jsonline.com/story/money...nds/837536002/

  3. #333

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    Quote Originally Posted by Silver and Gold View Post
    Retired Teamster asks Congress to save troubled pension funds

    Many of those plans, which cover union workers in fields such as trucking and construction and receive contributions from multiple employers, are on the verge of crashing financially.


    https://www.jsonline.com/story/money...nds/837536002/
    NEVER believe those who "think" for you...and " manage " YOUR wealth.
    This should be a lesson for everybody.

    What does it matter if gold is not the "best" investment, if the BEST suddenly eclipses to NOTHING?

    Golditiki2++

  4. #334

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    It’s the pension promises, stupid!

    You can trust public pension apologists to deflect any critique that calls out the failure of defined benefit plans. Unsurprisingly, their response to a recent Wall Street Journal editorial highlighting Wirepoints’ research was just that – deflection via misdirection and victim playing.


    Wirepoints found that a skyrocketing growth in pension benefits, what are known as accrued liabilities, is behind most of the state pension crises playing out across the country. Uncontrolled pension benefit growth is swamping many state economies and the residents who pay for those benefits.




    What's the Frequency, Kenneth?

    432Hz

  5. #335

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    Wow Raspberry: What a sleeping giant. In my travels .. usually garage sales, I meet an unbelievable amount of people who are government retirees. They won't cut everyone off, in my state we've got a top funded state pension, their is no guarantee, they adjust monthly checks up and down according to how the funds or bonds perform. The main thing I see a problem with, is that pensions used to be for the working man, they never capped these, just a prediction of mine (capping), although also unlikely, why would they try to inject fairness or equality into the mix. They would be even wiser to just offer payouts and bail by getting rid of pensioners altogether, but they won't because it would deplete the funds. Many have no idea, they could to better investing the money themselves, the returns on these pensions are paltry, many are bond heavy.
    Last edited by everything1; 08-13-2018 at 11:51 AM.

  6. #336

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    Quote Originally Posted by everything1 View Post
    Wow Raspberry: What a sleeping giant. In my travels .. usually garage sales, I meet an unbelievable amount of people who are government retirees. They won't cut everyone off, in my state we've got a top funded state pension, their is no guarantee, they adjust monthly checks up and down according to how the funds or bonds perform. The main thing I see a problem with, is that pensions used to be for the working man, they never capped these, just a prediction of mine. They would be even wiser to just offer payouts and bail by getting rid of pensioners altogether, but they won't because it would deplete the funds. Many have no idea, they could to better investing the money themselves, the returns on these pensions are paltry, many are bond heavy.
    Illinois gets 3% a year hike and free healthcare for life.
    What's the Frequency, Kenneth?

    432Hz

  7. #337

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    Public pensions are paying higher fees for lower returns, Pew study finds

    Public pension plans are spending more than $2 billion a year in fees on high-cost, risky investments to boost returns. But those bets haven't been paying off, according a report Wednesday from the Pew Charitable Trusts.

    The higher cost comes as public pension fund managers try to make up for a steep shortfall brought by years of underfunding and lackluster investment returns.

    As of fiscal 2016, the latest data available, state pension funds tracked by Pew had a combined $1.4 trillion deficit – up $295 billion from 2015 and the 15th annual increase in pension debt since 2000. State public pension plans have assets of just $2.6 trillion to cover total pension liabilities of $4 trillion.


    https://www.cnbc.com/2018/09/26/publ...udy-finds.html

  8. #338
    Join Date
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    11,770

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    Quote Originally Posted by golditiki2 View Post
    NEVER believe those who "think" for you...and " manage " YOUR wealth.
    This should be a lesson for everybody.

    What does it matter if gold is not the "best" investment, if the BEST suddenly eclipses to NOTHING?

    Golditiki2++
    Many are trapped and can't get out of pension plan contributions like myself for 34 years of work. There was no opt-out clause. But our pension plan been topped out by the company I worked for plus my own contributions were higher than normal.

    Feel sorry for those with the golden promise only to have the sheets pulled from their retirement bed.
    ...be your own Health Care System... grow your own and eat well

  9. #339

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    Quote Originally Posted by everything1 View Post
    Wow Raspberry: What a sleeping giant. In my travels .. usually garage sales, I meet an unbelievable amount of people who are government retirees. They won't cut everyone off, in my state we've got a top funded state pension, their is no guarantee, they adjust monthly checks up and down according to how the funds or bonds perform. The main thing I see a problem with, is that pensions used to be for the working man, they never capped these, just a prediction of mine (capping), although also unlikely, why would they try to inject fairness or equality into the mix. They would be even wiser to just offer payouts and bail by getting rid of pensioners altogether, but they won't because it would deplete the funds. Many have no idea, they could to better investing the money themselves, the returns on these pensions are paltry, many are bond heavy.
    Just so you know bonds do well in a declining rate environment. Something that has been happening for the last 35 years or so, except the last one. ( more or less) Well run Government Pension funds have done great. CPP in Canada to name one I am familiar with. I am sure there are many.

  10. #340

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    Here is return of the Canada Pension Fund which holds the payroll taxes for retirement of Canadians
    As you can imagine it is a large fund. Return over the latest 16 year period shown is little north of 8% a year.
    These funds should outperform individual investors due to economies of scale, diversification, expertise etc.
    I have no idea why so many of US public pensions are underwater. Just simply collect more, or pay less, or is it the fund managers not making the real after inflation returns needed.
    I am guessing that would be 3 to 7% depending how generous pension fund is. CPP RRR is roughly 6%
    _______________________________________________

    Performance
    The performance and the market value of the CPP Fund is reported on a quarterly basis.

    Investments held by the CPP Fund include equities, fixed income (primarily government bonds), and inflation-sensitive assets (real estate, inflation-linked bonds and infrastructure). The CPPIB is making a major push into real estate, especially real estate in India.[24]

    Historical information on the performance of assets available to the Canada Pension Plan, and financial statements of the CPP Investment Board, can be found under the Quarterly Reports and Annual Reports section of the CPPIB's website.

    The total growth of the CPP Reserve Fund is derived from the CPP contributions of working Canadians, and the return on investment of the contributions.[25] The portion of CPP Reserve Fund growth due to CPP contributions varies from year to year, but have shown a slight decrease in the past 3 years. The historical growth with the investment performance is tabulated as follows:

    Date Net Asset Value (CAD) Rate of Return (annual)
    Mar 2003 $55.6 Billion -1.1%
    Mar 2004 $70.5 Billion +10.3%
    Mar 2005 $81.3 Billion +8.5%
    Mar 2006 $98.0 Billion +15.5%
    Mar 2007 $116.6 Billion +12.9%
    Mar 2008 $122.7 Billion -0.29%
    Mar 2009 $105.5 Billion -18.6%[25]
    Mar 2010 $127.6 Billion +14.9%[25]
    Mar 2011 $148.2 Billion +11.9%[25]
    Mar 2012 $161.6 Billion +6.6%[25]
    Mar 2013 $183.3 Billion +10.1%[26]
    Mar 2014 $219.1 Billion +16.5%
    Mar 2015 $264.6 Billion +18.7%[27]
    Mar 2016 $278.9 Billion +3.4%
    Mar 2017 $316.7 Billion[4] +11.8%
    Mar 2018 $356.1 Billion +8.0%

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