Longevity breakthroughs make gov pensions even more of a gold mine

Longevity breakthroughs make gov pensions even more of a gold mine

LifeExpectancyOn Sunday the Drudge Report sent Twitter abuzz with the report of a hugely significant breakthrough on aging and longevity:

“It may seem the stuff of gothic horror novels, but transfusions of young blood could reverse the ageing process and even cure Alzheimer’s Disease, scientists believe. …

“Now scientists have found that young blood actually ‘recharges’ the brain, forms new blood vessels and improves memory and learning.

“In parallel research, scientists at Harvard University also discovered that a ‘youth protein’ which circulates in the blood is responsible for keeping the brain and muscles young and strong.”

We can expect to see a Manhattan Project-sized push to be able to make synthetic enriched blood in coming years.

When a lifetime pension means 50 years on the dole

elysium_safepassage_thumb_374x222It may seem strange to see such stories and consider them through the prism of public policy disputes. The wonk in me can’t help it. What about the implications of lifetime pensions if the average CalPERS pensioner lives to 100 or more?  I wrote about this for Cal Watchdog last September:

“Having a defined-benefit government pension when you live on average until you are 81 or 85 is already an immensely lucrative and reassuring fact of life for public employees. But having such a pension when you live until 100 is a gilded gift, one that makes past complaints about government employees being a special protected class seem simply inadequate.

“Barring a change in benefits or a dramatic increase in the minimum retirement age, public employees would enjoy an advantage so pronounced that it would be somewhat akin to that owned by the privileged elite who live in a satellite colony rotating around a decaying Earth in the science-fiction film ‘Elysium.'”

If we really did have giant life-expectancy gains, or course that would have a million effects beyond government pensions. But if that means we have a society with a life expectancy of 100 in which Social Security and Medicare are supposed to provide enough sustenance to people over 67 so they don’t have to work, then …

“… it is impossible to conceive of a federal budget in anything even vaguely resembling its present form.

“The main hope of averting fiscal disaster then might be what economics writer Matt Yglesias and some futurists call the emergence of a ‘post-scarcity’ world — one in which combinations of technology have sharply reduced the cost of material goods.

“But if praying for a ‘post-scarcity’ world is the best that most private-sector workers can do in contemplating how they’ll fare in a California with life expectancy of 100, that’s a striking contrast to the outlook of government workers. They can look forward to three or four decades of retired life at 75 percent to 90 percent of their final pay. The rest of us? We can pray our reverse mortgages prop up our lifestyles for a while before we’re forced to mooch off our children or to move into a new urban phenomenon: slums for the elderly.”

This is a wildly exciting time to be alive, all belly-aching about pensions aside. If there is a “post-scarcity” world, California is likely to come up with many of the key tools as biotech, computer sciences and nanotech intersect to produce a science-fiction-feeling 21st century.

Count on Jerry Brown taking the credit.

73 comments

Write a comment
  1. Ted O'Steele, CEO
    Ted O'Steele, CEO 5 May, 2014, 06:49

    LOL– My WW2 vet Dad worked 39 years and took a pension and lived 15 more years— was he “on the dole” Chris?
    This is yet another lazy clownish nothing piece— please show us you can do better.

    I say congrats to the retirees who earned their promised keep! Long may they live!

    Reply this comment
    • Chris Reed
      Chris Reed Author 5 May, 2014, 12:25

      In fact, Ted, CalPERS pays very close attention to longevity.

      This is a real issue.

      Glad to help you out, though. Hope you feel better.

      Reply this comment
      • S Moderation Douglas
        S Moderation Douglas 5 May, 2014, 12:35

        Mr. Reed,

        The “young blood” studies have nothing to do with longevity.

        Some of the articles on this even caution that it could REDUCE longevity, if it increases cancer risk.

        As a wise man once said, carts should come after horses

        Reply this comment
          • S Moderation Douglas
            S Moderation Douglas 5 May, 2014, 16:12

            WHUT wuz I thinkin’.

            Read the slugs!! Don’t bother to go past the first paragraph.

            As a bonus, I can tie the slugs into a slam on public workers.
            ……………
            The “effects of aging” they refer to are diminished cognitive skills and physical strength and stamina. The young blood or GDF11 protein injections improved these factors in the older mice.

            That means they are stronger and smarter. NOT that they will live longer. I hope none of these test mice are CalPERS recipients.
            ………..
            ” none of the studies tested for longevity” Washington Post

            ” Thus there is a strong possibility that forcing old tissues to behave as though young by changing the signaling environment – such as by using young blood – will result in a greatly raised risk of cancer.” Fightaging.org

            ” But scientists would need to take care in rejuvenating old body parts. Waking up stem cells might lead to their multiplying uncontrollably.

            “It is quite possible that it will dramatically increase the incidence of cancer,” New York Times

            Oy?

      • S Moderation Douglas
        S Moderation Douglas 5 May, 2014, 12:36

        Although

        Reply this comment
      • S Moderation Douglas
        S Moderation Douglas 5 May, 2014, 12:39

        We’re waiting for Tough Love to show up and claim that GED cops, firewhiners, and miscellaneous troughers live longer than “makers” because “takers” have better nutrition and health care.

        Reply this comment
        • Rex the Wonder Dog!
          Rex the Wonder Dog! 5 May, 2014, 17:28

          We’re waiting for Tough Love to show up and claim that GED cops, firewhiners, and miscellaneous troughers live longer than “makers” because “takers” have better nutrition and health care.
          You do not need TL for that, that is a proven fact. They are “heros” and deserve;

          Reply this comment
          • Rex the Wonder Dog!
            Rex the Wonder Dog! 5 May, 2014, 17:29

            OMG this one is even better;

          • Donkey
            Donkey 5 May, 2014, 21:18

            You are in trouble now Rex, the hose pullers have you on their list of naughty PSC’s. Be careful when they start the next controlled burn.

            A friend of mine, who happens to be a FF, went on a rant about “triage” as if it was the most complex concept ever passed through the minds of men. I responded with, most people sort out the hardest tasks from the easier ones everyday Stan, that’s how work gets done, it’s not a new concept because you use a French word. He looked so sad, he actually believed it was only used in his RAGWUS feeding vocation. 🙂

      • Ted O'Steele, CEO
        Ted O'Steele, CEO 5 May, 2014, 21:19

        Chris– I am still among the hard working Americans producing every day! But thanks anyway! Coming from an iconic SUPER producer like yourself that means alot!

        Reply this comment
    • John Seiler
      John Seiler 5 May, 2014, 17:48

      Ted: Retirees earned what is in the pension funds. They did not earn a 100% drain on tax dollars.

      Reply this comment
      • S Moderation Douglas
        S Moderation Douglas 5 May, 2014, 18:10

        “100% drain on tax dollars”?

        Seilerism

        Reply this comment
      • Ted O'Steele, CEO
        Ted O'Steele, CEO 5 May, 2014, 21:23

        John– Don’t you wish that was true?

        Truth is that retirees earn what they contract for in their pension plans!

        And

        Not what arm chair quarterbacks like yourself dream up years later! Of course I say this guided by the commercial application of an ancient and reliable jurisprudence that underpins our entire economy and civilization while your wishes come mainly from Fox News ™ talking points and AM radio hosts.

        Reply this comment
        • Rex the Wonder Dog!
          Rex the Wonder Dog! 6 May, 2014, 10:58

          John– Don’t you wish that was true? Truth is that retirees earn what they contract for in their pension plans! And Not what arm chair quarterbacks like yourself dream up years later! Of course I say this guided by the commercial application of an ancient and reliable jurisprudence that underpins our entire economy and civilization while your wishes come mainly from Fox News ™ talking points and AM radio hosts.

          LOL…Google is not a “…commercial application of an ancient and reliable jurisprudence…”.

          Nice try trougher! I think Donk’s punches have left you brain damaged teddy Steals…oh wait, that was already there 🙂
          🙂

          Reply this comment
      • SeeSaw
        SeeSaw 5 May, 2014, 21:30

        That’s why we have actuaries. There are supposed to be investment earnings that pay 64% of the pensions. The legislature set up the Plan–not the retirees. We are all taxpayers. And, if you think there is a better place to be than in the United States of American, head out!

        Reply this comment
        • Donkey
          Donkey 6 May, 2014, 07:01

          SeeSaw, you have no recollection of SB400? The bill that doubled pensions for the RAGWUS feeders, Calpers actuaries said it was not going to cost the taxpayers one cent and forever the fund would live off of its investment earnings.

          Calpers, along with the PS RAGWUS feeders created this selfish monster, now that we know their math was a lie the feeders don’t care, in their mind its too late to do what’s right. 🙂

          Reply this comment
          • Rex the Wonder Dog!
            Rex the Wonder Dog! 6 May, 2014, 10:59

            SeeSaw, you have no recollection of SB400?
            seesaw has “selective memory” she only remembers what she selects!

          • SeeSaw
            SeeSaw 6 May, 2014, 19:24

            No, Donkey. SB400 only increased the pensions for the entities that adopted it at the time, and I had no knowledge of it–pensions were the last thing to be talked about–we were too busy doing our jobs. My entity adopted it for all employees when the state also allowed the pension enhancement for miscellaneous workers–I don’t recall if it was 2001 or 2002. My employer had already reformed the 3% at 50 by 2005 and the 3% at 60 by 2008. Many entities never adoopted SB400 and, to my knowledge, the enhancement to 3% was never adopted for miscellaneous state employees. We are all way ahead of you Donkey. You have not a leg to stand on. In my case, my pension formula at the time was 2.418% at age 63 or over, and I was already over. My final calculation increased from 2.418% to 3%, so if you can do math at all, you will see that was not a doubled pension.

          • Donkey
            Donkey 7 May, 2014, 10:02

            SeeSaw, I see you conveniently left out the part where Calpers said it would not cost the state, cities, or counties one penny more, yet some cities are approaching 75% of their budgets for pensions now, with many at 25% or more when before SB400, which was 1999 by the way, no city paid more than 3% of their budgets on pensions.

            Your total lack of logic and reason on this topic has to be solely based on greed and total disregard for private sector citizens. 🙂

          • SeeSaw
            SeeSaw 7 May, 2014, 18:30

            They did not know the crash was coming–its that simple.

          • SeeSaw
            SeeSaw 7 May, 2014, 18:45

            You forgot to include salaries and other benefits, Donkey. The CalPERS contributions are a percentage of payroll and it sure isn’t 75%–it is standard for total municipal personnel costs to require 75 to 80 percent of the total budget. My entity did not adopt SB400 until 2001 or 2002, and some entities never adopted it. In 1999 it only covered safety personnel–not miscellaneous. Many entities, including mine, started to reform their, respective, pension plans downward from the SB400 formula years ago, and the State’s PEPRA went into effect in 2013. You can’t go on crying about SB400, because reform has been ongoing. You have not a leg to stand on when you accuse people you don’t even know of being greedy–you are just so jealous, the green stuff swishes out of every little opening in your body!

          • Donkey
            Donkey 8 May, 2014, 08:39

            SeeSaw wrote: “They did not know the crash was coming–its that simple.”

            Wow!! A pension system that pays many of its members more money each month than they actually earned while working, something not done anywhere in the world of retirement, yet in the fantasyland of the RAGWUS it defies economic reality.

            Calpers committed fraud upon the people of California. The Calpers board is as crooked as any of the bankers and insurance CEO’s that ran their schemes before the collapse of 2008.

            The lack of integrity that exists within the RAGWUS concerning all compensation, pay, benefits, pensions, and all its spiking scams is nothing new. History is full of deceit in the halls of government. Look at Obama, Harry Reid, both were middleclass, made less than $100,000 a year until they got into politics, now both are muti-millionaires. I know firemen that are making $1,000,000 every three years doing little to nothing.

            I can see that SeeSaw will say and do anything to justify a corrupt and evil system that has lied and deceived the PSC’s. 🙂

  2. S Moderation Douglas
    S Moderation Douglas 5 May, 2014, 07:52

    Slow news day or sci-fi Monday?

    Another ” journalism venture”.

    Seriously? Ignoring temporarily the the fact that the studies concerned short term improvements in physical and cognitive abilities and, QUOTE: ” none of the studies tested for longevity”

    Make up your own “facts” if it suits your agenda. Never mind the journalists code of ethics.

    Reply this comment
    • Donkey
      Donkey 5 May, 2014, 09:31

      Yea, lets use RAGWUS ethics to run the scam. 🙂

      Reply this comment
      • S Moderation Douglas
        S Moderation Douglas 5 May, 2014, 17:02

        Society of Professional Journalists
        Code of Ethics

        -Test the accuracy of information from all sources and exercise care to avoid inadvertent error. Deliberate distortion is never permissible.
        ………..
        Don’t shoot the messenger.

        Reply this comment
        • Donkey
          Donkey 5 May, 2014, 17:16

          The RAGWUS ethics espouse that feeders are underpaid at all levels, which is a flat out lie when compared with private sector workers. 🙂

          Reply this comment
  3. NTHEOC
    NTHEOC 5 May, 2014, 09:30

    LOL, lets remember this is far from journalism! it’s nothing more than a “opinion piece”, at most. That’s why the readers always have to present the facts….

    Reply this comment
  4. Donkey
    Donkey 5 May, 2014, 09:30

    RAGWUS pensions have to be lowered to no more than the average household income, nothing more!! That is still twice what the SS recipient receives ate 66 years old. 🙂

    Reply this comment
    • SeeSaw
      SeeSaw 6 May, 2014, 19:36

      Well guess what Donkey! If you can raise the money, go ahead and put forth your intitiative, because that is the only way you will ever lower our pensions. Well-known Chuck Reed can’t even do that right now. You will go to your grave crying about public sector pensions–whiner!!

      Reply this comment
    • SeeSaw
      SeeSaw 7 May, 2014, 22:07

      Donkey the median household income in CA for 2012 was $58,329. The average CalPERS income for 2013 was $32,000.

      Reply this comment
  5. Steve Mehlman
    Steve Mehlman 5 May, 2014, 10:32

    People living longer? Should we be pleased that advances in medical science have made this breakthrough possible? Of course not. It’s just a victory for the “takers.”

    Solution? Does the name ‘Soylent Green” ring a bell? http://en.wikipedia.org/wiki/Soylent_Green

    Reply this comment
    • Rex the Wonder Dog!
      Rex the Wonder Dog! 6 May, 2014, 11:02

      “Soylent Green”, good movie! Edward G Robinsons’ last film I believe. Why is it NEVER on TV???

      Or the “Omega Man”, awesome film and NEVER on TV!!!!!

      Reply this comment
    • Donkey
      Donkey 6 May, 2014, 12:43

      Rex, Heston was a scary gun owning conservative! 🙂

      Reply this comment
      • Rex the Wonder Dog!
        Rex the Wonder Dog! 6 May, 2014, 22:14

        He sure was, Heston’s gun selection when he knocked off so many of those creepy vampire types in “The Omega Man” was insane!!!!!!!!!

        Reply this comment
  6. Bill Gore
    Bill Gore 5 May, 2014, 14:44

    All the histrionics about public ‘worker’ pensions aside, I think the creepy rich old are already feeding on the blood
    of the young. Look at the neocon creeps (McCain, et.al) who run around the world trying to start huge bloody new wars to enrich their buddies in the military industrial complex.

    Didn’t we just retreat out of sheer exhaustion from Iraq, after a bloody pointless 10 year war/occupation, all based on the really big lie of saving the world fromWMD’s?

    Looking forward to revelations of filthy rotten billionaires kidnapping kids and draining them of blood….

    Reply this comment
    • Donkey
      Donkey 5 May, 2014, 17:20

      That is what the Prison Industrial Complex is for Bill, heck the old LE RAGWUS feeders all need new organs as well as blood.

      The way this country is run now anyone can disappear, be used for parts, never to be seen again. 🙂

      Reply this comment
  7. S Moderation Douglas
    S Moderation Douglas 5 May, 2014, 20:17

    CEO’Steele was right all along.

    We are doomed.

    Reply this comment
  8. Ulysses Uhaul
    Ulysses Uhaul 5 May, 2014, 21:35

    Why worry?

    XxxxxxL purple T-shirted pensioners will have short lives…….doomers again get whipped up by the usual CWD false stimuli.

    Wake up….your getting worked each and every day!

    Reply this comment
    • Ted O'Steele, CEO
      Ted O'Steele, CEO 6 May, 2014, 06:44

      It’s true U haul—- just like the anti climate change pro denial trash they spew out here— in time watch and see—- this will be the end of conservatism as we know it because today’s ignorant stewards have driven it to the ground through magical thinking and Reagan-Fox Worship ™

      Reply this comment
      • Donkey
        Donkey 6 May, 2014, 06:54

        “Worship”, so says the little one that has been on his knees for Obama since his second coming. 🙂

        Reply this comment
        • Ted Steele, Manager
          Ted Steele, Manager 6 May, 2014, 13:10

          Reagan-Fox News Worship ™

          LOL

          Knew that would get your panties in a bunch!

          lol

          Reply this comment
          • Donkey
            Donkey 6 May, 2014, 15:09

            Wipe your mouth before Obama shows up this week TCS, and remember to shake it for him too!! 🙂

          • Ted O'Steele, CEO
            Ted O'Steele, CEO 6 May, 2014, 21:01

            Kinda vulgar isn’t that Duncey?

        • Donkey
          Donkey 7 May, 2014, 10:06

          Not nearly as vulgar as what the RAGWUS feeders are doing to the PSC’s with your excessive pay, pensions and benefits. What you are doing for Obama is of your own free will, the PSC’s are being forced to pay for the RAGWUS cabal. 🙂

          Reply this comment
          • Ted Steele, Manager
            Ted Steele, Manager 7 May, 2014, 10:57

            You mean “President” Obama little buddy?

          • Donkey
            Donkey 8 May, 2014, 08:47

            No, I have no respect for a liar and murderer. 🙂

  9. Ted Steele, Manager
    Ted Steele, Manager 6 May, 2014, 08:39

    John– Don’t you wish that was true?

    Truth is that retirees earn what they contract for in their pension plans!

    And

    Not what arm chair quarterbacks like yourself dream up years later! Of course I say this guided by the commercial application of an ancient and reliable jurisprudence that underpins our entire economy and civilization while your wishes come mainly from Fox News ™ talking points and AM radio hosts.

    The Ted Spirit of Defiance in the Face of Blinkard Pig Ignorance System ™

    Reply this comment
  10. Donkey
    Donkey 6 May, 2014, 09:16

    TCS: “Truth is that retirees earn what they contract for in their pension plans.” A bigger lie has seldom been told, but in history it is the norm.

    The RAGWUS is a Quid Pro Quo scheme created by government insiders to buy politicians to do their bidding for not only job security, but also wealth growth at the expense of private sector citizens well being. For the last thirty years the politicians bought and paid for by the PS unions, teachers unions, nurses unions, and even private sector unions have been scamming the PSC’s in everyway possible. Ramming through legislation that only protects their rights, jobs, and pensions while leaving the majority of citizens nothing but debt.

    TCS, you are the ignorant one! 🙂

    Reply this comment
  11. Ted Steele, Manager
    Ted Steele, Manager 6 May, 2014, 13:06

    LOL– The above tome was yet another RURG I will probably never read. I hope you cleaned up the rant spital girlfriend!

    And– Thanks for the super fast post!!

    Hurry!!

    Reply this comment
    • Donkey
      Donkey 6 May, 2014, 15:08

      You wouldn’t understand it anyway my little parrot of lies. 🙂

      Reply this comment
      • Ted O'Steele, CEO
        Ted O'Steele, CEO 6 May, 2014, 19:11

        Zzzzzzzzzzzzz….you’re probably right….Zzzzzzzzzzzzzz

        Reply this comment
        • Donkey
          Donkey 7 May, 2014, 10:07

          You know it!! 🙂

          Reply this comment
          • Ted Steele, Manager
            Ted Steele, Manager 7 May, 2014, 10:55

            most of us out here don’t understand what you say little buddy! That’s because it is mostly RURG postings covered with rant-spital ™

            this is just easy!

          • Donkey
            Donkey 8 May, 2014, 08:46

            That would be your GED education at work TCS. Shake is little one!! 🙂

  12. Ulysses Uhaul
    Ulysses Uhaul 7 May, 2014, 00:01

    Becoming convinced Poodle and Donkey are posting hogs on CWD trying to smother fair and balanced , pragmatic, bipartisan posters attempts at finding common ground with loons and trolls!

    Reply this comment
  13. Ted Steele, Manager
    Ted Steele, Manager 7 May, 2014, 14:25

    oh— I mean

    Little Buddy ™

    Reply this comment
  14. Ted Steele, Manager
    Ted Steele, Manager 8 May, 2014, 13:42

    Duncey– You’re going to brush your tooth?

    Reply this comment
    • Donkey
      Donkey 12 May, 2014, 17:23

      You most certainly cheated on your GED to pass TCS. Most everything you post is poorly written, just like the one above. 🙂

      Reply this comment

Write a Comment

Leave a Reply



Related Articles

The radical roots of Jerry Brown’s school finance reform plan

March 22, 2013 By Wayne Lusvardi California Gov. Jerry Brown’s recently proposed radical public school financing reform –- the so-called

Meyerson makes ridiculous attack on GOP

Aug. 31, 2012 By John Seiler I have a lot of problems with the Republican Party. They don’t come nearly

Wall Street doubts CA shale hype — but not Occidental

April 11, 2013 By Chris Reed Bloomberg News, which is doing an increasingly good job covering California of late, had