Free Republic

Connecticut has the most underfunded pension system in the nation, amassing more than $127.7 billion in liabilities.. The study entitled Unaccountable and Unaffordable showed Connecticut’s pension system dropping below Illinois and Kentucky when its pension liabilities were calculated with a “risk-free” discount rate equal to the rate of a U.S. Treasury bond. Connecticut’s unfunded pension liability rose from $99.2 billion in ALEC’s 2016 study to $127.7 billion in 2017, leaving the pension system only 19 percent funded. The debt from the public pensions amounts to $35,721 per person in Connecticut, the second highest per capita debt in the nation behind...

Guv Brown is going to “loan” $6 billion from a previously unknown slush fund to keep CalPERS doors open. That is after he GIVES then $500 million, so they can keep sending out checks. This is an economic disaster for the people of California—and another reason to leave for a Free State beofre your family finances are destroyed. ... employees don’t share in the cost of Unfunded Liabilities. 100% of that cost falls on citizens, whose services get crowded out and taxes get raised to pay off the liabilities. Jerry Brown proposes to borrow from a citizen-funded restricted fund to...