MONEY: Pensions will be at risk

http://www.mercurynews.com/california-budget/ci_18716703?nclick_check=1

Teacher pension fund joins California auditor’s risk list
Associated Press
Posted: 08/19/2011 09:17:05 AM PDT
Updated: 08/19/2011 09:20:58 AM PDT

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SACRAMENTO — The state auditor’s office on Thursday added teacher pensions to the list of high-risk issues facing California government.

The report by State Auditor Elaine Howle added the nation’s largest teacher pension fund because it can’t meet the costs of retirement benefits beyond the next 30 years. The pension funding problem was added to a list of risks that includes California’s chronic budget deficit, unfunded retiree health costs and prison crowding.

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Unfunded liabilities are not just for the Federal Gooferment.

Just like the Delta pilots, everyone is going to take a haircut.

The only question is how much will be taken …

… by the corrupt politicians.

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One thought on “MONEY: Pensions will be at risk

  1. It’s almost amusing regarding the utter lack of common sense. When you get things for free (like retirement and healthcare) it’s a surprise when people start getting old and want to collect, there isn’t any money? LoL Or possibly it’s not a lack of common sense, just plain deceit and theft…as the politicians likely knew that too, but it got them votes in the near term! Speaking of votes and terms, since they won’t pass term limits, let’s impose them on the will of the ‘people’ by voting out all the encumbents! We need to get this country back…it has been taken away from us.

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