"Despite the robust investment returns since 2004, annual growth in unfunded pension liabilities has outstripped these returns," Moody's warns in its latest report on the state of public pension systems. As Bloomberg reports, the 25 biggest systems by assets averaged a 7.45% return from 2004 to 2013, but liabilities tripled over the same period leaving them facing a $2 trillion shortfall as investment returns can’t keep up with ballooning obligations. The top 25 funds account for 40% of the entire US public pension system with Illinois, Kentucky, Connecticut, and Louisiana at the top of the 'most underfunded' list.
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7 comments:
Catastrophic collapse. that's what coming.
Wait until someone tells 35 million Americans who actually WORKED for a living (the only check they ever got was on Friday's for the previous work week), saved, and played by the rules, that their money has been spent or was never really there anyway.
No one cares until THEY get the notice that their pension will now be $180.00 a month instead of $2200.00.
R_E_V_O_L_U_T_I_O_N.
These overpaid union scumbags are about to get what they deserve!
Yep, the Democrats promise everything for the vote and then leave you hanging.
Tough luck!
Why doesn't welfare, public housing or government handout never go broke?
Buy a lot of canned goods , you gonna need em.
Anyone with a small brain should know what's commin.
Supply and demand !
We need more money , woops , we don't have it , we gave it to the American Ferguson people.
I think it 's funny has $hit , what's you gonna do when they come for you.
Buy more canned goods and ammo while you can butt heads.
I'm not being part of the problem , I do have a solution , revolt with arms.
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