http://www.therightcurmudgeon.com/2014/12/the-public-employee-pension-scam/
The Public Employee Pension Scam
Commentary
Dec 30, 2014
*** begin quote ***
Every public pension fund plays this game. CalPERS, the California State Pension system, is reporting a shortfall of $260 billion. The problem with that number is that they are assuming a return on investment of 7.5% in order to get to the $260B number. In and of itself, $260B isn’t pocket change, but the reality is much, much worse.
In fact, using public sector accounting rules, CalPERS shortfall is more like $986 billion. Because the shortfall is projected over the life of the fund, when it hits it’s going to be way too late to actually do anything about it.
*** end quote ***
What the private sector is doing? Converting.
In actuality, “We, The Sheeple” should be worried.
All “pensions” should be converted to defined contribution plans!
TANSTAAFL (“There Ain’t No Such Thing As A Free Lunch” From Robert Heinlein’s classic)
Argh!
# – # – # – # – #
Reinke Faces Life 
Reblogged this on The Grey Enigma.
LikeLike