You might have thought your public pension was on shaky ground, but you’re likely still being too kind.
Influential and well-regarded hedge fund Bridgewater Associates Wednesday warns public pensions are likely to achieve 4% returns on their assets, or worse. If Bridgewater is right, that means 85% of public pension funds will be going bankrupt in three decades.
Bridgewater came to these conclusions by stress testing the nation’s public pension plans, much the way banks need to be evaluated on what could happen given a wide range out outcomes.
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Then in 30 years when I'm 91 I'll go out and find a job.By then Salisbury will be beachfront property and folks will come from all over to go to Thrashers,which will be along the new boardwalk.
ReplyDeleteHopefully it will be government pensions.
ReplyDeleteYou can better believe the billionaire fund managers will get their fees.
ReplyDelete