I know this is a bit oversimplified to say, but, we can set up spreadsheets containing all the variables, such as rates of return, expected payouts based on life expectancy, etc. and derive amounts needed to balance the budget of the pension funds.
I’m trying to say, we could figure out what combination of increases in employee contributions, employer contributions, pension benefit cutbacks, are needed to bring things into balance.
If we’re saying union contracts, or political realities make it impossible to take certain actions, then we will crash land some years from now
The same concepts apply to funding Social Security.
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If we’re saying union contracts, or political realities make it impossible to take certain actions, then we will crash land some years from now
The same concepts apply to funding Social Security.
>
SS/MediXYZ are illegal, unconstitutional Ponzi schemes. Why’d anyone WANT to ‘balance’ ‘em?
Least the pensions have SOME semblance of legality; even though the conflict of interest, collusion and conspiracy to raid the local treasury would get most people YEARS @ club-Fed, were it the REAL world...