Posted on 05/13/2016 6:54:57 AM PDT by C19fan
According to a first-of-its kind pension-tracking website created by a team at Stanford’s Institute for Economic and Policy Research, America’s unfunded pension liabilities—the difference between the value of state pension funds and the amount owed to public sector workers—totals over $4.8 trillion, or $41,219 per household. The Stanford team arrived at number assuming a three percent rate of return—far lower than the 7.5 percent “actuarial” rate many pension funds rely on, but rarely meet. (Even if the actuarial basis were accurate, state pension funds would still owe a combined $1.04 trillion, or $8,872 per household).
(Excerpt) Read more at the-american-interest.com ...
Google “Theresa Ghilarducci”. THAT’S what they are gonna do.
Gov workers are the greediest bastards on the planet. Most people don’t have a pension.
All gov pensions should be rolled into the “social security trust fund”.
It’s NOT their money.
My net worth could pay off 30 of them. Mr. President: Please raise my taxes.
Of course, there’s nothing government can’t screw up given a few scares to convince people that they should help you.
You can bet they’ll not stop at pension funds for public sector workers either.
Indeed, IIRC, Obama and company have already taken steps so that the federal will be the nation’s new investment planner.
As for these unfounded pension funds: I guess we’re finally seeing the coming price for Big Government and all the people it will employ and the idea of a secure retirement for everyone.
Eventual ruin and poverty follow after the so-called “progressive”.
Of course, there’s nothing government can’t screw up given a few scares to convince people that they should help you.
You can bet they’ll not stop at pension funds for public sector workers either.
Indeed, IIRC, Obama and company have already taken steps so that the federal will be the nation’s new investment planner.
As for these unfounded pension funds: I guess we’re finally seeing the coming price for Big Government and all the people it will employ and the idea of a secure retirement for everyone.
Eventual ruin and poverty follow after the so-called “progressive”.
How did that double post?
A mandatory 5% of my salary isn’t ever going to .gov for their guaranteed rate of return.
No wonder she was threatened.
Proof of this 'work' is required.
The total unfunded U.S. government liabilities total over $853K per citizen.
http://www.usdebtclock.org/
Ohhh, so She’s the NWO creep promoting plans to seize our savings for the good of the many.
She wants to kill your 401(k) - USA Today
www.usatoday.com/story/money/2015/03/16/ozy-teresa-gh... Proxy Highlight
Mar 16, 2015 ... Being an economist isn’t often a path to fame, but Teresa Ghilarducci found her 15 minutes — and so much more — about seven years ago, ...
Teresa Ghilarducci: “How To Retire With Enough Money” - The ...
www.thedianerehmshow.org/shows/2016-01-07/teresa-ghil... Proxy Highlight
Jan 7, 2016 ... Economist Teresa Ghilarducci says that IRAs, 401(k)s and Social Security won’t be enough for many middle-class retirees. She has long ...
The Retirement Expert Who Got Death Threats for Her Ideas ...
www.bloomberg.com/news/articles/2015-08-05/the-retire... Proxy Highlight
Aug 5, 2015 ... The New School’s Teresa Ghilarducci on mandated savings, risk aversion, and avoiding fees.
“public sector workers”
“Proof of this ‘work’ is required. “
If you look at the state of our country, it would not be out of bounds at all to cancel ALL gov pensions.
Yup, she’s the one.
Just like Single Payer, you know it WILL happen, once the Dems can produce the right moment of crisis and panic.
New Jersey has some of the worst public pension problems in the US
I say, liquidate the pension and give the money to the public workers in individual 401Ks type plans. They control their own money and the state contributes to the plan yearly, and is budgeted yearly as well. So no more “kicking the can down the road” which the state of NJ has been doing for decades.
Also this will eliminate the corruption aspect as well, no more police chiefs or school administrators retiring with 120K a year pensions for life.
They are always yapping about how the "rich" can afford to pay more taxes. Well, they are pension rich and can afford to take less pensions.
I vote that when they decide to start seizing money, they seize all of the Universities endowments. The top 20 is worth over $250 billion.
They should also eliminate all federal financial aid at the same time and force these schools to live within their means instead of turning students into indentured servants for the rest of their lives.
A friend here in NY is a retired school principal. His yearly pension from the State is $150K.
“How did that double post?”
Means your traffic is going thru the NSA. Due to their data capture architecture network conditions can sometimes create ghost packets hitting a destination. Probably due to a temporary buffer overflow on a device.
I say eliminate the pensions, liquidate them and put the money in each public workers newly formed 401K account
The government can contribute and so can the employee as well or the government can do a matching funds kind of deal.
This way it is all budgeted and the money is in the control of the retiree, not corrupt government insiders using the funds as their personal piggy banks
If they think they are going to be able to raise taxes to fund the extravagant pensions of our public masters they are delusional. There is no obligation on the Americwn public to pay off the bribes politicians paid the unions in the form of extremely generous pay and retirement. I suggest that the soon to be disposed, nouveau riche, public employee retirees find and hang the politicians that created this fiasco.
Schadenfreude, a nice feeling in these dark days.
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