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The Methuselah Annuity: Public employees living longer than expected, deepening the pension crisis.
City Journal ^ | 02/05/2019 | Steve Malanga

Posted on 02/05/2019 9:29:11 AM PST by SeekAndFind

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To: SeekAndFind
So, someone in the pension fund management, forgot to tell prospective pension fund retirees they were expected to die by a certain actuarially-determined date and age, in order to provide a pension to those up-and-coming whipper-snappers?

And that it would be irresponsible to not die and bail out the corrupt and incompetent pension fund management?

That sounds like poor planning . . .


21 posted on 02/05/2019 10:16:20 AM PST by Miguk
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To: SeekAndFind

Cull the herd ...


22 posted on 02/05/2019 10:16:31 AM PST by IronJack
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To: SeekAndFind

LOL. Then why isn’t this a massive crisis for every single pension plan? The reality is that the government is trying to blame actuarial tables for their politicians completely overly generous pension benefit give-away that was put in place to get votes for the politicians who voted for it. The crisis happened when the legislature voted for this obscene boondoggle, not now based on some actuarial mistake.


23 posted on 02/05/2019 10:25:27 AM PST by Opinionated Blowhard (When the people find that they can vote themselves money, that will herald the end of the republic.)
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To: SeekAndFind

The short answer to “Why do I have to wait so long to catch the bus in Pittsburgh?”

Because over half of their revenue is going to pay guys who retired younger than I am to sit home and watch Jerry Springer.


24 posted on 02/05/2019 10:34:03 AM PST by Buckeye McFrog
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To: SeekAndFind

The country made lucrative pension promises to government workers and didn’t bother funding. Unless I’m wrong, a lot of government workers’ pensions pay them 80% of their final year or two salary. Compare that to social security. By the way, tax payers pay for bot of those pensions.


25 posted on 02/05/2019 10:35:08 AM PST by antidemoncrat
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To: SeekAndFind

With direct deposit I suspect a lot of them live long after their death buried in the basement or the back yard.


26 posted on 02/05/2019 11:03:15 AM PST by P-Marlowe (Freep mail me if you want to be on my Fingerstyle Acoustic Guitar Ping List)
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To: SeekAndFind

Public employees who sit at a desk all day are supposed to die early. But they don’t. Another health myth destroyed.


27 posted on 02/05/2019 4:30:16 PM PST by aimhigh (1 John 3:23 "And THIS is His commandment . . . ")
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