[quote=pri_dk]The public pension employees will get the full benefit, as required by law. Whose money will be used to make up the difference? (Hint: It’s not the sh!tcanned fund manager, who was probably chosen by a public employee in the first place.)
Now if someone in the private sector loses money in their 401K because their money was mismanaged, who is on the hook to make up the shortfall?
Keep trying, maybe you’ll get it eventually…[/quote]
Actually, pension fund managers are chosen by retirement boards, which are comprised by law of one active public safety employee, one active non-safety employee, two retired employees, two local business owners or local CEOs (or one of each) and one elected official (usually a county supervisor). There has to be a quorum and majority vote on any decision.
pri_dk, try not to come off sounding like a dk unless you know what you’re talking about ;=]
