Sep 7 – FS Insider welcomes public pension expert Lawrence McQuillan, author of the must-read book, California Dreaming: Lessons on How to Resolve America’s Public Pension Crisis, to discuss the problems facing public pensions…
via illinoispolicy: According to a new report by Moody’s Investors Service, Illinois’ unfunded pension liabilities equaled 601 percent of state revenues in 2017, a U.S. record. Illinois’ pension debt has set a new record to which no state should aspire. Credit …
via knowledge.wharton: Sanitation workers, firefighters, teachers and other state and local government employees have performed their duties in the public sector for decades with the understanding that their often lackluster salaries were propped up by excellent benefits, including an ironclad pension. …
Let me know what you think of what I would call an “alternative retirement account”. Essentially get paid today and forever on your investments. And also, make preparations like power, food, etc. As far as I’m concerned that’s safer than …
by Thinker Why is there an attack on the Trump administration, and refusal to reveal documents that have been legally requested? Could it be that they will reveal where some of the trillions the Pentagon has lost went? Americans and …
by John Rubino The Wall Street Journal recently highlighted a better method of analysing the impact of public sector pensions on state and local budgets. The results are ominous for government finances, the bond markets, and pretty much everything else: Why Your …
via wirepoints: One graphic perfectly captures the absurdity of Illinois pensions over the past three decades. It’s what Justice Samuel Alito described as Illinois’ “generous public-employee retirement packages” when writing for the majority in the Janus v. AFSCME decision. “Illinois’ pension funds …
BY JOHN MAULDIN There’s been a wave of public school teacher strikes around the US. It started in West Virginia and spread to Kentucky, Oklahoma, Arizona, and elsewhere. Pensions have been an issue in all of them. Demographic and economic reality says that …
Are you in New Jersey? What can you tell me about the situation there? I need some inside information! New Jersey is in the same trouble as Illinois and other parts of the US. They have promised more than they …
https://twitter.com/OccupyWisdom/status/999660045704073216 Italy 🇮🇹 Euro liabilities of Financial System 24% of GDP, Debt to GDP 132% with short term maturities above 20% of GDP. Populists think they will exit the euro, print Lira and increase pensions, spending, salaries and export more …
by ludwigvon An “Audible Gasp” Was Heard When The Chicago Fed Unveiled Its “Solution” To The Pension Problem An audible gasp went out in the breakout room I was in at last month’s pension event cosponsored by The Civic Federation …
by FS Listen to this podcast on our site by clicking here or subscribe on iTunes here. For issuers of debt (borrowers), interest rates are the cost to borrow funds; for buyers of debt (lenders), it is the rate of return they get …
Why isn’t anyone talking about the pension funds that have been cut before and will be cut again? Mainstream media, forget it. Governments, forget it. But even the alternative news barely touches it. For such a big issue, it’s quite …
via Wirepoints: It’s starting to get real. There has been so much ink spilled regarding underfunded pensions and municipal bankruptcies, but outside of so much journalistic hand-wringing, it’s been pretty easy, like with the ever-escalating federal debt, to say, “So what?” …
Pension funds will be cut. We have to understand that this is going to CONTINUE to happen. People don’t realize this. But unfortunately it’s just a matter of time. The next recession will guarantee the loss of many pension dollars. …
https://pinecast.com/listen/26a9a27c-69b1-40d9-8810-1fda4b6fe7f9 Full Transcript Available Chapters 00:00 Preshow 01:52 The Idea of Retirement is Centuries Old 02:26 History of Pensions in the US 04:46 Decline of Pensions 06:13 Crisis Looming; Dallas Case Study 08:58 Short Term Promises With No Long-Term Sustainability …
In your opinion, what do you think will happen if pensions don’t pay out or are cut? The pension crisis continues. No state can find its way out of this mess. It’s too big. It’s too messy. There’s no way …
via investmentresearchdynamics: The pension crisis is inching closer by the day. @CalPERS just voted to increase the amount cities must pay to the agency. Cities point to possible insolvency if payments keep rising but CalPERS is near insolvency itself. It may …
Josh Sigurdson talks with author and economic analyst John Sneisen (for the first time in 4K) about an incredibly risky move made by Barclays as they dump 280,000 savers’ pensions into their “riskier investment banking division” which dramatically endangers the …
by jessefelder The brewing pension crisis has been well-documented by a number of platforms and pundits over the past few years. But there are two charts that put it into perspective for investors who find themselves in the same boat as …
You will LOSE your pension fund. Sorry to be the bearer of bad news. Sources Used in This Video: https://goo.gl/UpprQe
Retiree Patsy Jardin will see her annual income plummet from $49K to $19K as the California Public Employees Retirement System cuts benefits.