[quote=gandalf] . . . Responsibility for this mess starts with Wall Street executives and the financial industry, assisted by the Fed, rating agencies and corrupt politicians who engineered deregulation, fraud and loose credit. Bigger problem than federal/state/muni pensions by orders of magnitude.[/quote]
Completely agree, gandalf. Public pension funds were, for the most part, solvent until their respective Boards began investing it in Wall-Street-created vehicles that “promised” higher returns but were not, in any way shape or form appropriate or in our best interest.
FWIW, due to its small size, I chose to defer my pension (let it grow a bit more) before I apply for it. I don’t currently live off my “pension” OR collect “retiree health benefits.”
