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Thread: The Great Pension Deficit

  1. #61

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    Default Re: The Great Pension Deficit

    First thing you do IMO, is cancel any "elected officials" pension first. They are the decision makers and architects of the mess.
    Socrates: "Democracy, which is a charming form of government, full of variety and disorder, and dispensing a sort of equality to equals and unequaled alike."

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  3. #62

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    Default Re: The Great Pension Deficit

    Usually, the managers of a pension fund are not participants in the fund, because they would have undue influence and interst in maximizing their own holdings and not specifically other participants'. Personally, I think if the fund managers invested in real estate tranches or something similar they all should be fired. Unfortunatly that's probably the worst you can do to them because those investments were supposed to be AAA+.

    Oh and as for the "elected officials" - no rainy day fund, no pension.
    "All the prophets of Doom, Can always find room, In a world full of worry and fear..." - Protest Song, Monty Python

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  5. #63

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    Default Re: The Great Pension Deficit

    I don't want to bet against human ingenuity, but I don't see any way possible we can get out of this mess without taking on more debt.

    The great myth of Wall Street is that stock buyers can buy stocks for the long run and count on the 10% gains that have ensued 'historically'. What a scam. How many pension funds planned on 11 or 12% returns when the going was good, ie: 1990-2000, 2003-2006, only to get wiped out and then some twice in the same decade?


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  7. #64

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    Default Re: The Great Pension Deficit

    Bullitt,

    From what I have heard most pension funds planned on about 7% annual gains. They bumped it up in the go-go years (because of political pressure) to about 8%. Most are probably about even now - but even is not good enough when one is demanding a consistent 8% growth. They will overcome their losses soon enough.

    The real problem are bubbas retiring in their 50s, 'buying' years of service, and getting good medical benefits for an extended retirement. Another huge problem in these state and city pensions is that neither the employee nor the employer invests the proper amount. The unions reduce the employee responsability, the government entities delay investment when 'right now' problems are occuring.

    This game is over.

    There will be pension cuts.
    Lookin' up at the 'G Fund'!!!

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  9. #65

    Default Re: The Great Pension Deficit

    Quote Originally Posted by Boghie View Post

    The real problem are bubbas retiring in their 50s, 'buying' years of service, and getting good medical benefits for an extended retirement.
    Guilty.
    100 G
    RSI - Relative Strength Indicator DMA - day moving average

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  11. #66

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    Default Re: The Great Pension Deficit

    Quote Originally Posted by Boghie
    The real problem are bubbas retiring in their 50s, 'buying' years of service, and getting good medical benefits for an extended retirement.
    Quote Originally Posted by clester View Post
    Guilty.
    Yeah, me too! I was going to work until I was 85... then I heard the world was gonna end in 2012 and figured WTF... might as well go when I'm 50! So starting this June... I will be a burden on society.

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  13. #67

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    Exclamation Re: The Great Pension Deficit

    Clester, GMace,

    I have a feeling Clester has significant assets in his Al Gore 'Lockbox' (that is, TSP). No politician can jigger formulas and change your distribution or asset levels.

    However, politicians CAN jigger your pensions.

    And, they will do so.

    Easy target.

    Ahem.

    Lookin' up at the 'G Fund'!!!

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  15. #68

    Default Re: The Great Pension Deficit

    I made it a year ago. Best thang ever.

  16.  
  17. #69

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    Exclamation Politicians Dancing 'The Jigger'...

    To all those folks who thought our pensions were sacrosanct:
    There ain't any money.
    Especially in Liberal Strongholds.
    California, Illinois, Wisconsin, New Jersey.
    Rahm Emmanuel in the other Blue stronghold of Chicago was saying things that could have come directly from California’s Little Hoover report. Emmanuel was said to favor cutting benefits not just for new hires, but for existing employees.
    I don't relish this reality, but it is reality.

    I'm wondering how the Federal Gubmint 'invests' our FERS pension? Is it with something like an L fund? Or, is it with something like direct payouts from the Treasury - i.e. the assets are not invested but instead paid out as a budget line item?

    The only good thing is that the anti-worker warmonger Ronald Reagan forced us into an 401(k) style retirement system for the majority of our retirement assets. He, obviously, was a moron not to trust politicians.

    Its not smart to trust current politicians with the promises of former politicians
    Lookin' up at the 'G Fund'!!!

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  19. #70

    Default Re: Politicians Dancing 'The Jigger'...

    Quote Originally Posted by Boghie View Post
    I'm wondering how the Federal Gubmint 'invests' our FERS pension? ... Its not smart to trust current politicians with the promises of former politicians
    i think they just give it to congress so they can spend it to stimulate growth, and for safekeeping in the long term too.
    100g

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  21. #71

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    Default Re: The Great Pension Deficit

    Got my answer, Burrocrat, got my answer - I think...

    I think it is just a Social Security enhancement...

    Counting on Pelosi and Ryan for payout...

    Never a good thing, never...

    Uuuuggggghhhhhhh...
    Lookin' up at the 'G Fund'!!!

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  23. #72

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    Default Re: The Great Pension Deficit

    The Biden plan will include bailing out poorly managed pension plans. What message does this send? Spend recklessly and don't worry, debt doesn't matter.

    A straightforward read of this, then, is that every penny of pension benefits due to be paid to present or future retirees, for the next 30 years, would be paid by the federal government.

    For now, it is a genuine disappointment to me that attempts to truly reform the system have been abandoned, and that those who believed that no reforms were needed, just cash, appear to have won the day.
    https://www.forbes.com/sites/ebauer/...h=6ec649dd2e62


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