Posted on 11/15/2014 5:32:20 PM PST by SeekAndFind
The government folks eventually get gang banged like everyone else has and is. And by the very same city, county and state entities they worked for.
and just about every major city they are in charge of. which is most of them. where there’s a huge structure for welfare and freebies, the dems are there running things into the ground.
The solution is easy => Wear pajamas. Drink hot chocolate. Talk about pension reform.
many have already done so saying it’s their fault b/c they moved out of the democrat-run cities.
they try to get the money via “regionalism” schemes thgat is all about these cities taxing the suburbs.
Vanguard Wellington Fund https://personal.vanguard.com/us/funds/snapshot?FundId=0021&FundIntExt=INT
Characteristics as of 10/31/2014
Fund total net assets $87.8 billion
CalPers managed $257.4 billion in assets, 2013.
The 124 billion dollars of income in the nine-year period 1999-2007 has been reduced in half by the combined losses of 67 billion in 2008 and 2009. This totals to 57 billion dollars of investment income during this 11-year period, or about 5.1 billion a year on an investment portfolio of 261 billion in October 2007 and down to 186 billion in October 2008. This is a 2.5% return on investment over the 11-year period.
http://en.wikipedia.org/wiki/CalPERS#Investment_income_gains_and_losses_1999-2009
Not that VWELX is the only fish in the ocean, but unlikely they would expand it to the size of CalPers.
Isn’t that public “servents”? ...according to them.
Can you imagine they were once considered or called public servants?
Amazing...Proves once again, this certainly isn’t the same America our parent’s were raised in.
1 Ridiculously generous pension calculations.
2. State not making required contributions to fund system.
3. Unreasonable calculations on return on investment.
4. Funds engaging in liberal boondoggle investments.
No, they would simply have promised more and spent more and they’d still be in the same boat.
If the investment was actually returning 8%, they would have used 15% for their predictions so they could keep everyone paid and happy...
Be happy…
https://www.youtube.com/watch?v=y6Sxv-sUYtM
(It might seem crazy, what I’m ‘bout to say)
I am.
u do understand that the larger a fund grows the more difficult it is to garner such returns? See how Pimpco has performed over the past few years? The law of diminishing returns comes into play. By the way they do allocate huge sums to hedge funds and the like some of whom do throw that money into other funds. (funds of funds).
I do understand the issues with large funds. PIMCO was primarily into bonds. Vanguard Wellington and Wellesley are heavily diversified and balanced between stocks and bonds. I don’t believe they are involved with hedging techniques. They are conservatively managed and have stood the test of time.
You can always tell who the CA retirees are in other states. They’re generally the only ones buying big ticket stuff, home additions, high end fun toys, building news homes, and on and on.
All that is eventually coming to an abrupt stop.
But then is wishes were wings then pigs would be a flying!
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