San Diego Housing Market News and Analysis
New York Times article today on public pensions assuming too high returns
User Forum Topic
Submitted by ctr70 on May 28, 2012 - 10:05am
Good NYT article touching on public pension issues in New York, Rhode Island and San Jose.
Public pensions "assumptions" of their rate of return is often much higher then what they actually get. Causing the local tax payers to have dig into their pockets to make up the difference.
Being in the private sector, when my IRA or 401k takes a dump with the stock market, I just have to live with less. I don't get any tax payer bailout to "make up the difference". Why should public pensions be any different? If their investments take a dump, public pension recipients should just get less!!
We need to STOP taxpayer backstopping of public pensions!!
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