[rollin]

he real problem is that the chances of making 7.2% ireturn is only about 10%.

With the bond portfolio returning less than 4%, perhaps, a more meaningful expected rate of return would be 5%, of 2.2% less than the revised number.

Now that will cause a little angst among the politicians.

[hal ogen]

I know some smug retired government “workers”. It will be a laugh if they have to suck it up.