MONEY: New plan — Rob Peter to pay, well, Peter

http://www.ricedelman.com/cs/pressroom/pressroom_detail?pressrelease.id=1629

*** begin quote ***

Lawmakers are creating solutions for their pension shortfalls. New York is considering a plan that would let it borrow money from the state’s pension plan and use that money to pay its annual obligations to the pension plan. (No, that’s not a typo — they’re essentially planning to rob Peter to pay, well, Peter.)

*** end quote ***

Worth reading. The insanity of unfunded liabilities is only going to get worse.

# # # # #

Please leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: