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The pension crisis in California is going to sink the state

Basically 95+ of California's municipalities have an outstan...
Pearl step-uncle's house
  11/13/18
As long as people keep flocking there, taxes will keep incre...
costumed feces
  11/13/18
people really need to stop moving to california. Fucking it ...
nubile state
  11/13/18
The state has net domestic outmigration.
bespoke ivory set
  11/13/18
are people breeding at insane rates or what..why does it fee...
costumed feces
  11/13/18
Foreign immigration.
bespoke ivory set
  11/13/18
People aren’t flocking there. About 120K leave per ye...
alcoholic goyim
  11/13/18
Which means a million Mexicans move in, and 900K UMC white p...
alcoholic goyim
  11/24/18
Good
Tan vivacious blood rage indian lodge
  11/13/18
Illinois is already where CA is headed. You may have boug...
Lake Hyperventilating Prole
  11/13/18
And Illinois will pass a statewide 1% property tax soon.
bespoke ivory set
  11/13/18
(optimist)
sickened comical home
  11/13/18
How will California and Ilinois deal w this shit? Is iit ac...
180 kitchen
  11/13/18
California might be fine because of their dynamic economy. ...
Medicated dashing old irish cottage garrison
  11/13/18
It's terrible. The more you raise taxes, the more taxpaye...
bespoke ivory set
  11/13/18
Hence politicians' smearing of red states as culturally empt...
Coiffed Pink Stage Jew
  11/13/18
Red States attract more people domestically than they lose.
bespoke ivory set
  11/13/18
What if it's true?
Bonkers private investor knife
  11/14/18
Yes it’s true. Don’t come here ever.
alcoholic goyim
  11/24/18
but those 100 people can't just leave the state. their reven...
Multi-colored violent tanning salon
  11/14/18
Does due process prevent Cali from taxing people who lived t...
carmine mind-boggling location community account
  11/14/18
Illinois leg. passed a bill to make pension cuts. The Ill. S...
sickened comical home
  11/13/18
And how many of those pension checks get mailed to Clearwate...
bespoke ivory set
  11/13/18
Illinois scotus should be executed
alcoholic gas station regret
  11/13/18
They weren't the ones who passed the constitutional amendmen...
Ruddy domesticated foreskin
  11/13/18
...
frozen brass range sound barrier
  11/13/18
...
Shaky sandwich space
  11/14/18
Legislature could amend the constitution.
Learning disabled wrinkle hunting ground
  11/14/18
Bankruptcy is a federal law hth
nighttime church kitty
  11/13/18
you're right, though the state leg. still must allow munis t...
sickened comical home
  11/13/18
It actually comes down to whether the pension fund fits with...
nighttime church kitty
  11/13/18
IL SCOTUS has been very clear that even if the pension fund ...
Soul-stirring coral den trump supporter
  11/14/18
Can this law (that pensions cant be cut) be overturned? Like...
Pearl step-uncle's house
  11/14/18
They can but have to do it by constitutional amendment
Ruddy domesticated foreskin
  11/14/18
How difficult will this be to achieve?
Pearl step-uncle's house
  11/14/18
In Illinois? I've got a better chance of fucking Melania Tru...
Ruddy domesticated foreskin
  11/14/18
States can’t file for bankruptcy. Municipalities can,...
Provocative Heaven Persian
  11/14/18
people have been saying this for at least 20 years, but it n...
trip flickering boiling water idiot
  11/13/18
(guy trying to predict Minsky moment)
bespoke ivory set
  11/13/18
...
Pearl step-uncle's house
  11/13/18
Looks like it’s been a problem since the 1940s http...
titillating ungodly public bath telephone
  11/13/18
Remove Chicago and East St. Louis from Illinois and you have...
bespoke ivory set
  11/13/18
I'm pretty sure its the downstate teachers fund that is the ...
sickened comical home
  11/13/18
Heard this from a budget guru in Springfield.
bespoke ivory set
  11/13/18
I'm pretty sure it's the entire state's teachers pension tha...
Lake Hyperventilating Prole
  11/13/18
Teachers fund has largest liability but is 40% funded. The ...
titillating ungodly public bath telephone
  11/14/18
Like 70% goes to upstate. Still not sure how they think dow...
Lake Hyperventilating Prole
  11/14/18
They also issued pension bonds to cover obligations, but it ...
Lake Hyperventilating Prole
  11/13/18
This is an interesting point. According to this report: htt...
silver fantasy-prone dilemma
  11/13/18
Lmao. Why don't more people call out this bullshit?
Pearl step-uncle's house
  11/13/18
burn it down!
thriller amethyst stage french chef
  11/13/18
...
aquamarine place of business
  11/14/18
What boomers have done to the state of California in just on...
purple tantric dragon
  11/14/18
A New York Times piece last week highlighted the growing pro...
beady-eyed balding jap azn
  11/14/18
76k/month??? How's that even possible.
Pearl step-uncle's house
  11/14/18
Bro that’s par for the course in Illinois. The average...
sickened comical home
  11/14/18
Of which they contributed maybe 10k MAYBE
Cerebral Tripping Trust Fund Becky
  11/24/18
Pitchforks asap
alcoholic goyim
  11/14/18
...
Pearl step-uncle's house
  11/14/18
...
Demanding degenerate
  11/14/18
CA is the 6th largest economy in the world and they benefit ...
Multi-colored violent tanning salon
  11/14/18
Dumb question: why are pensions underfunded in the first pla...
Multi-colored violent tanning salon
  11/14/18
birdbrained state pols w no future time orientation imagine...
Chrome self-absorbed giraffe shrine
  11/14/18
...
curious anal party of the first part
  11/24/18
The pols aren’t birdbrains; they know what they’...
alcoholic goyim
  11/24/18
Unions convince local elected officials to keep increasing g...
Pearl step-uncle's house
  11/14/18
Seems like theres more it than this
Multi-colored violent tanning salon
  11/24/18
Some of it has to do with Wall Street robbing pension funds ...
Jade Cumskin
  11/24/18
...
Pearl step-uncle's house
  11/24/18
Pensions are paid out based on an obscene general fund annua...
vibrant canary ticket booth
  11/24/18


Poast new message in this thread



Reply Favorite

Date: November 13th, 2018 8:22 PM
Author: Pearl step-uncle's house

Basically 95+ of California's municipalities have an outstanding pension liability. Cities now have two choices: cut costs or increase taxes.

I'm pretty sure taxpayers will get fed up soon with all this tax increases.

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37226856)



Reply Favorite

Date: November 13th, 2018 8:27 PM
Author: costumed feces

As long as people keep flocking there, taxes will keep increasing.

I just LOL @ out of staters with no family ties and no family money moving there

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37226886)



Reply Favorite

Date: November 13th, 2018 8:31 PM
Author: nubile state

people really need to stop moving to california. Fucking it up for everyone

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37226926)



Reply Favorite

Date: November 13th, 2018 8:31 PM
Author: bespoke ivory set

The state has net domestic outmigration.

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37226933)



Reply Favorite

Date: November 13th, 2018 8:36 PM
Author: costumed feces

are people breeding at insane rates or what..why does it feel like population has boomed

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37226988)



Reply Favorite

Date: November 13th, 2018 8:37 PM
Author: bespoke ivory set

Foreign immigration.

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37226997)



Reply Favorite

Date: November 13th, 2018 9:11 PM
Author: alcoholic goyim

People aren’t flocking there. About 120K leave per year net.

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37227239)



Reply Favorite

Date: November 24th, 2018 9:39 AM
Author: alcoholic goyim

Which means a million Mexicans move in, and 900K UMC white people leave

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37291368)



Reply Favorite

Date: November 13th, 2018 8:27 PM
Author: Tan vivacious blood rage indian lodge

Good

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37226893)



Reply Favorite

Date: November 13th, 2018 8:30 PM
Author: Lake Hyperventilating Prole

Illinois is already where CA is headed.

You may have bought a decent home in a North Shore burb of Chicago for $800K 15 years ago and paid $6K in property taxes.

That same home is still only worth $800K or less, but the property taxes are more like $15K.

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37226920)



Reply Favorite

Date: November 13th, 2018 8:33 PM
Author: bespoke ivory set

And Illinois will pass a statewide 1% property tax soon.

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37226943)



Reply Favorite

Date: November 13th, 2018 8:37 PM
Author: sickened comical home

(optimist)

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37226994)



Reply Favorite

Date: November 13th, 2018 8:35 PM
Author: 180 kitchen

How will California and Ilinois deal w this shit? Is iit actually as bad as the Grover norwuist crowd suggests?

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37226972)



Reply Favorite

Date: November 13th, 2018 8:39 PM
Author: Medicated dashing old irish cottage garrison

California might be fine because of their dynamic economy.

Illinois is fucked.

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37227016)



Reply Favorite

Date: November 13th, 2018 8:39 PM
Author: bespoke ivory set

It's terrible.

The more you raise taxes, the more taxpayers leave the state, the more you have to raise taxes.

California is especially precarious because like 100 people fund half the state. It's ridiculously dependent on the top 1% for revenue

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37227017)



Reply Favorite

Date: November 13th, 2018 9:09 PM
Author: Coiffed Pink Stage Jew

Hence politicians' smearing of red states as culturally empty black holes?

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37227231)



Reply Favorite

Date: November 13th, 2018 9:11 PM
Author: bespoke ivory set

Red States attract more people domestically than they lose.

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37227238)



Reply Favorite

Date: November 14th, 2018 12:47 AM
Author: Bonkers private investor knife

What if it's true?

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37228622)



Reply Favorite

Date: November 24th, 2018 9:40 AM
Author: alcoholic goyim

Yes it’s true. Don’t come here ever.

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37291369)



Reply Favorite

Date: November 14th, 2018 10:36 AM
Author: Multi-colored violent tanning salon

but those 100 people can't just leave the state. their revenue is tied to it.

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37230306)



Reply Favorite

Date: November 14th, 2018 1:03 PM
Author: carmine mind-boggling location community account

Does due process prevent Cali from taxing people who lived there but fled?

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37231117)



Reply Favorite

Date: November 13th, 2018 8:40 PM
Author: sickened comical home

Illinois leg. passed a bill to make pension cuts. The Ill. Scotus overturned it finding that the Ill. Const. mandates no cuts to public pensions at all. It is massively underfunded right now.

Bankruptcy is not an option because I don't think Ill. has that chapter, unlike MI which was able to declare bankruptcy for Detroit.

Eventually Ill. pension funds will just run out of money. At that time the govt can raise taxes massively and people will flee, or the checks simply won't be mailed to the pensionees. I'd wager on the latter but not before a bunch of new taxes are passed to forestall that day.

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37227022)



Reply Favorite

Date: November 13th, 2018 8:43 PM
Author: bespoke ivory set

And how many of those pension checks get mailed to Clearwater and Scottsdale?

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37227053)



Reply Favorite

Date: November 13th, 2018 8:44 PM
Author: alcoholic gas station regret

Illinois scotus should be executed

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37227065)



Reply Favorite

Date: November 13th, 2018 8:48 PM
Author: Ruddy domesticated foreskin

They weren't the ones who passed the constitutional amendment forbidding pension cuts

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37227102)



Reply Favorite

Date: November 13th, 2018 10:54 PM
Author: frozen brass range sound barrier



(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37227993)



Reply Favorite

Date: November 14th, 2018 3:29 AM
Author: Shaky sandwich space



(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37229091)



Reply Favorite

Date: November 14th, 2018 9:18 AM
Author: Learning disabled wrinkle hunting ground

Legislature could amend the constitution.

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37229873)



Reply Favorite

Date: November 13th, 2018 8:46 PM
Author: nighttime church kitty

Bankruptcy is a federal law hth

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37227085)



Reply Favorite

Date: November 13th, 2018 8:52 PM
Author: sickened comical home

you're right, though the state leg. still must allow munis to file for it. in Ill. I don't think they have, unlike in MI.

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37227128)



Reply Favorite

Date: November 13th, 2018 9:32 PM
Author: nighttime church kitty

It actually comes down to whether the pension fund fits within the chapter 9 definition of municipality. I did a lot of pro bono research on this for an ill interest group when I was a Kirkland bk-mo

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37227395)



Reply Favorite

Date: November 14th, 2018 3:21 AM
Author: Soul-stirring coral den trump supporter

IL SCOTUS has been very clear that even if the pension fund goes BK, the pensioner is still guaranteed his payment and it would just come direct from the obligated jurisdiction. Some Illinois pension funds will be pay as you go in like three years.

Option one is to institute a progressive income tax which requires a constitutional amendment and perhaps also address the pension guarantee with the same amendment.

Option two is massive buyouts, change the ramp, just kick can further. Illinois will pick 2 if it does anything at all.

The Michigan situation is substantially easier than Illinois. BK is not helpful and the statute does not exist in Illinois law (though they file a bill for it every year). Doesn't matter. The municipalities are fucked but the state itself is even more fucked and BK is not possible for states.

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37229082)



Reply Favorite

Date: November 14th, 2018 4:21 AM
Author: Pearl step-uncle's house

Can this law (that pensions cant be cut) be overturned? Like can the voters vote for a proposition to overturn it? Can anyone change it in Illinois Supreme Court? Seems like a very shitty, unreasonable law.

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37229131)



Reply Favorite

Date: November 14th, 2018 7:52 AM
Author: Ruddy domesticated foreskin

They can but have to do it by constitutional amendment

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37229514)



Reply Favorite

Date: November 14th, 2018 8:13 AM
Author: Pearl step-uncle's house

How difficult will this be to achieve?

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37229618)



Reply Favorite

Date: November 14th, 2018 8:53 PM
Author: Ruddy domesticated foreskin

In Illinois? I've got a better chance of fucking Melania Trump in the Lincoln bedroom.

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37234722)



Reply Favorite

Date: November 14th, 2018 9:15 AM
Author: Provocative Heaven Persian

States can’t file for bankruptcy. Municipalities can, and so can like sewer districts. It’s why congress needed to pass a law to allow Puerto Rico to go through a bankruptcy type process

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37229861)



Reply Favorite

Date: November 13th, 2018 8:38 PM
Author: trip flickering boiling water idiot

people have been saying this for at least 20 years, but it never seems to happen. illinois, too - lots of articles circa 2008/9 about how the state was on "the verge" of collapse. do verges last for more than a decade?

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37227013)



Reply Favorite

Date: November 13th, 2018 8:41 PM
Author: bespoke ivory set

(guy trying to predict Minsky moment)

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37227036)



Reply Favorite

Date: November 13th, 2018 8:44 PM
Author: Pearl step-uncle's house



(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37227068)



Reply Favorite

Date: November 13th, 2018 8:45 PM
Author: titillating ungodly public bath telephone

Looks like it’s been a problem since the 1940s

https://en.m.wikipedia.org/wiki/Illinois_pension_crisis

Throughout the 1970s, the funding of the state's pension systems rose from roughly 35% to 50%. From the 1980s to the mid-1990s, pension funding levels fluctuated between 50% and 60%

In 1994, when unfunded pension liabilities hit a then-high of $17B, new legislation was passed under governor Jim Edgar to raise the funding ratio from 52% to 90% by 2045, referred to as the 'Edgar Ramp'. However, a later complaint by the Securities and Exchange Commission noted even at the levels proposed by the reform package, unfunded pension liabilities would continue to grow[12]. While the state's pension funding ratio increased to 75% by 2000, the funding improvements were driven by $15B of favorable changes to actuarial assumptions and better-than-expected investment returns, and state contributions fell $6B short of required amounts. [11]

In 2005, Senate Bill 27 allowed for reduced contributions in times of budgetary pressure, known as 'pension holidays'. In 2006 and 2007, contributions were roughly $1B lower than the amounts required under the 1995 legislation

The size of Illinois' pension obligation is $214B, the state's pension funds have only $85B available for payouts to retirees

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37227074)



Reply Favorite

Date: November 13th, 2018 8:48 PM
Author: bespoke ivory set

Remove Chicago and East St. Louis from Illinois and you have a balanced budget and sound pensions.

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37227099)



Reply Favorite

Date: November 13th, 2018 8:53 PM
Author: sickened comical home

I'm pretty sure its the downstate teachers fund that is the most underfunded.

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37227133)



Reply Favorite

Date: November 13th, 2018 8:54 PM
Author: bespoke ivory set

Heard this from a budget guru in Springfield.

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37227139)



Reply Favorite

Date: November 13th, 2018 10:42 PM
Author: Lake Hyperventilating Prole

I'm pretty sure it's the entire state's teachers pension that is the problem. Not sure how downstate is any bigger contributor than the rest.

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37227922)



Reply Favorite

Date: November 14th, 2018 7:54 AM
Author: titillating ungodly public bath telephone

Teachers fund has largest liability but is 40% funded. The general assembly fund is only 15% funded lol

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37229521)



Reply Favorite

Date: November 14th, 2018 7:56 AM
Author: Lake Hyperventilating Prole

Like 70% goes to upstate. Still not sure how they think downstate caused the problem. Downstate are republicans

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37229525)



Reply Favorite

Date: November 13th, 2018 10:43 PM
Author: Lake Hyperventilating Prole

They also issued pension bonds to cover obligations, but it didn't address the under funding issue.

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37227924)



Reply Favorite

Date: November 13th, 2018 8:54 PM
Author: silver fantasy-prone dilemma

This is an interesting point. According to this report:

https://www.nasra.org/Files/State-Specific/Illinois/IL%20pension%20history.pdf

People described IL's pensions as insolvent in 1917. That was 101 years ago. How is this possible??

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37227136)



Reply Favorite

Date: November 13th, 2018 9:03 PM
Author: Pearl step-uncle's house

Lmao. Why don't more people call out this bullshit?

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37227186)



Reply Favorite

Date: November 13th, 2018 10:59 PM
Author: thriller amethyst stage french chef

burn it down!

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37228031)



Reply Favorite

Date: November 14th, 2018 12:22 AM
Author: aquamarine place of business



(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37228546)



Reply Favorite

Date: November 14th, 2018 8:05 AM
Author: purple tantric dragon

What boomers have done to the state of California in just one generation is truly remarkable.

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37229570)



Reply Favorite

Date: November 14th, 2018 8:05 AM
Author: beady-eyed balding jap azn

A New York Times piece last week highlighted the growing problem. In Oregon, for instance, some public employees receive enormous pensions, thanks to negotiating precedents set by public-sector labor unions. One example: Joseph Robertson, the retired head of Oregon Health & Science University, takes home a pension of $76,111. That's every month.

Then there's former University of Oregon head coach and athletic director Mike Bellotti, whose pension delivers $46,583.00 a month in benefits.



(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37229571)



Reply Favorite

Date: November 14th, 2018 8:13 AM
Author: Pearl step-uncle's house

76k/month???

How's that even possible.

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37229615)



Reply Favorite

Date: November 14th, 2018 8:23 AM
Author: sickened comical home

Bro that’s par for the course in Illinois. The average teacher pension in Illinois for a teacher who retired in the last 3 years is $70,000.

Oh I saw yours was per month. That’s unbelievable.

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37229655)



Reply Favorite

Date: November 24th, 2018 9:49 AM
Author: Cerebral Tripping Trust Fund Becky

Of which they contributed maybe 10k MAYBE

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37291419)



Reply Favorite

Date: November 14th, 2018 8:24 AM
Author: alcoholic goyim

Pitchforks asap

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37229657)



Reply Favorite

Date: November 14th, 2018 1:14 PM
Author: Pearl step-uncle's house



(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37231193)



Reply Favorite

Date: November 14th, 2018 1:10 PM
Author: Demanding degenerate



(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37231172)



Reply Favorite

Date: November 14th, 2018 10:34 AM
Author: Multi-colored violent tanning salon

CA is the 6th largest economy in the world and they benefit from all sorts of shared costs with the rest of the USA (military, highways, etc). They will be fine.

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37230286)



Reply Favorite

Date: November 14th, 2018 10:39 AM
Author: Multi-colored violent tanning salon

Dumb question: why are pensions underfunded in the first place? is it intentional? a miscalculation? neglect?

seems like you should be able to forecast what your liabilities will be.

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37230315)



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Date: November 14th, 2018 10:41 AM
Author: Chrome self-absorbed giraffe shrine

birdbrained state pols w no future time orientation

imagine ur wife left alone in a pantry w a jar of cookies after being told those cookies are for after dinner ONLY

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37230331)



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Date: November 24th, 2018 9:38 AM
Author: curious anal party of the first part



(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37291364)



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Date: November 24th, 2018 9:44 AM
Author: alcoholic goyim

The pols aren’t birdbrains; they know what they’re doing. They are not rewarded for prudent pension management, they’re rewarded for spending on visible shit. It’s not the pols that are birdbrains, but the voters.

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37291385)



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Date: November 14th, 2018 10:58 AM
Author: Pearl step-uncle's house

Unions convince local elected officials to keep increasing government employee pay and benefits. Taxpayers usually don't know what's going on and don't oppose anything.

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37230415)



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Date: November 24th, 2018 9:36 AM
Author: Multi-colored violent tanning salon

Seems like theres more it than this

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37291354)



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Date: November 24th, 2018 10:32 AM
Author: Jade Cumskin

Some of it has to do with Wall Street robbing pension funds and hurting their returns as well as the last decade of interest rates being super low blowing out fixed-income returns. Pension funds depend on fixed income returns.

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37291566)



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Date: November 24th, 2018 12:41 PM
Author: Pearl step-uncle's house



(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37292080)



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Date: November 24th, 2018 10:35 AM
Author: vibrant canary ticket booth

Pensions are paid out based on an obscene general fund annual return percentage assumption -- like 8% or more every year.

(http://www.autoadmit.com/thread.php?thread_id=4132348&forum_id=2#37291572)