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Old 04-18-2019, 09:20 AM
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petergunn petergunn is offline
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Default Public pensions systems still "in trouble"



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^.gov will backstop fed pensions directly and state pension indirectly if only as an attempt to preserve the stock/bond markets, if not the whole thing gets flushed including 401k holders.


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Old 04-18-2019, 10:41 AM
goat daddy goat daddy is offline
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I remember when the California state pension was solvent and totally self supporting. Then like social security the union played with it and the state played with it. Since the state played with it, they should be libel to support it. Same with Social Security. Maybe future generations will learn not to kill the golden goose.
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Old 04-18-2019, 01:59 PM
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Originally Posted by petergunn View Post
^.gov will backstop fed pensions directly and state pension indirectly if only as an attempt to preserve the stock/bond markets, if not the whole thing gets flushed including 401k holders.


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Many state, city and county pension funds are underfunded and over promised. Union members are demanding more and local politicians are raising numerous taxes to meet monthly pension payments. There's nothing left in the funds and many pension funds no longer invest in the stock market or have fluctuating amounts. Their crash will impact politicians far more than the stock or bond market.
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