4 ms·
Care to enlighten us pension finance non-experts on what the article misses?
by ngould 8y ago
Care to enlighten us pension finance non-experts on what the article misses?
- aurailious 8y agoLaws were changed to intentionally weaken pension funds and then articles like this are funded to further destabilize trust in them. Another way of saying it: rich people were unhappy they have to pay taxes.
- DuskStar 8y agoWow, I didn't know that the anti-pensioners had so much influence in California! Another way of saying it: I don't think your summary is particularly fair or accurate.
- SamReidHughes 8y agoThey passed Prop 13.
- tomjakubowski 8y agoThe anti-pensioners' historical influence is enshrined in the California constitution, Article XIII A. https://ballotpedia.org/Article_XIII_A,_California_Constitution https://ballotpedia.org/Article_XIII_A,_California_Constitut...
- anonuser123456 8y agoSounds rather conspiratorial. You should provide some evidence for such a claim.
- lotsofpulp 8y agoMore like politicians and union bosses lobbied for taxpayer funded pensions to be exempt from laws like ERISA and PPA so that they could play games with the pension fund money and purchase votes from the union members without stating real benefit costs.
- safgasCVS 8y agoThe thing is solvency ratios should move like icebergs. Demographics, life expectancy and salaries don't change that quickly. Ok so stock markets move but reviews should be annual to allow for course corrections. So seeing it get so bad in such a short amount of time is a bigger story