[quote=harvey][quote=CA renter]CalSTRS just enacted a new plan to pay off their unfunded liabilities over 32 years (because they can…because it’s not a DC system) by increasing contributions from all stakeholders. Most of the other pension funds are working on the numbers and legislation to pay off their unfunded liabilities, as well.[/quote]
Whew! That’s a relief!
It’s good to hear that CalSTRS has a 32 year plan that will fix the problem.
Their execution for the past thirty years has been a total failure, but I’m sure they’ll get it right after a a few more decades.
And “most of the the other” fiscal time bombs are “working on the numbers and the legislation” …
Sounds like everything is under control. No worries![/quote]
Thought I’d drop in after the watching the market head south the past few days…
Thank god…
SD PENSION “officials close to the system say it is designed to balance out the fund’s holdings and protect it against big losses in the event of a stock-market meltdown.”
actually given the magnitude of the problem (and burn rate) if california/SD makes it 8 years (a quarter of the 32 year plan) w/o going bankrupt I’d be surprised…
