Oh dear. Left-wing government employees got conned by politicians. There’s a new one.
Is it only a crisis in the SEC or also in the Big Ten, Pac-12, Big 12, Ivy League and other conferences?
All we need to do is raise taxes to pay for the pensions!
Problem solved!
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Most pension funds invest the money they receive from future pensioners in the stock market.
If the Democrats win the upcoming election, the stock market will fall, further endangering the already shaky pension funds and their future pensioners’ prospects of receiving any money when they retire.
So the last thing prospective pensioners — almost all of them Democrats — should do is vote Democratic.
But if any of them were intelligent enough to understand this, they’d be Republicans by now.
This was the RAT plan from the beginning
I think they should ban pensions for states and municipalities and instead go with fully funded 401ks. If there is matching with delayed vesting the matching amount has to be funded from the start.
And they should allow health savings accounts for anyone whether they have alternatives through work or not.
I think they should ban pensions for states and municipalities and instead go with fully funded 401ks. If there is matching with delayed vesting the matching amount has to be funded from the start.
And they should allow health savings accounts for anyone whether they have alternatives through work or not.
I think they should ban pensions for states and municipalities and instead go with fully funded 401ks. If there is matching with delayed vesting the matching amount has to be funded from the start.
And they should allow health savings accounts for anyone whether they have alternatives through work or not.
Nobody could see this coming. 15 years ago.
To be honest, this entire thread and every single other thread on the topic belongs in chat.
No exceptions.
In the nineteen sixties and nineteen seventies the topic of unfunded pensions was debated ad nauseam in the Tulsa World (democrat morning paper) and in the Tulsa Tribune (republican evening paper) and people either fell into the camp of “this will eventually crash and burn” or “by the time this is a problem a new source of money will magically appear”. The folks who took the latter position really meant that they would be long dead or at least out of office when the crash came.
Here we are.
Water is wet.
The sun rises in the east.
Things not paid for collapse.
All of which are proper topics for chat, and not one of which is in any way, shape, or form news.
Very glad my pension and health insurance are covered by the federal government, not a state or local government.
If the Fed raises interest rates, a big chunk of the pension crisis will go away. Low yields are a major component.