Comments on: CalPERS staff nudges board to consider lower return rates

By: ricky65

ricky65 — Fri, 25 Nov 2016 17:30:11 +0000

In reply to Ted Trumpsteaks. Not a lot of cash Teddy when the payout to retirees currently is over 20 billion a year. But I reckon it will last until you take your dirt nap and that's really all you care about anyway.

By: TB

TB — Wed, 23 Nov 2016 22:39:33 +0000

More and more people are beginning to realize that Defined Benefit plans like public pensions are not sustainable, including the private sector which has more or less done away with them. Here is my solution to this looming crisis that is only going to get worse without any correction of course:

https://drive.google.com/file/d/0B90sU3A85q46OE9BZHJFSWEzbGM/view?usp=drivesdk

Please help spread the word…

By: Ted Trumpsteaks

Ted Trumpsteaks — Wed, 23 Nov 2016 21:55:38 +0000

300 Billion strong baby!!!!

By: Queeg

Queeg — Wed, 23 Nov 2016 05:29:46 +0000

In reply to WOW.

Comrades will feel in cost of living….sucking bucks out of the working poor is so cruel but necessary to fund pensions……who next?

By: WOW

WOW — Tue, 22 Nov 2016 23:00:39 +0000

What did you expect from COMMIEFORNIA asylum of fruits and nuts? Stupid is, is what stpid does! The people will never wake up or learn until it’s to late.

By: bob

bob — Tue, 22 Nov 2016 22:22:05 +0000

Mark my word, they will bleed the taxpayers white.

And the taxpayers are idiots, anyway. They will let it happen.

H#ll, they will even make it happen.

Just look at all the local sales tax increases and bond measures that pass. The idiot voters vote for these and don’t realize the money is all for the pensions.

By: Bill - San Jose

Bill - San Jose — Tue, 22 Nov 2016 19:51:10 +0000

Paid at the right hourly rate but way, way, way overcompsenated for what most of us call the real world.

Good games.

By: Sean

Sean — Tue, 22 Nov 2016 16:53:01 +0000

And don’t forget the other little time bomb built into the pension system. As part of the pension reform agreements a few years back, employees and employers will be required to increase to their contributions into the pension system and the bulk of it really kicks in in 2019. The way it was structured, the employee’s increase in pension contribution will be relatively small as will the state’s but the employer’s contribution (local governments) will be quite large (~2/3 of the increase). So this planned increase in contributions to make up for a shortage of funding based on the old discount rate will be overlaid on the new lower discount rate. This will get ugly.

By: Ron

Ron — Tue, 22 Nov 2016 16:40:10 +0000

It’s the inmates running the pension Asylum that are loading up system with lucrative packages for themselves.

The international business world is intelligent enough to know that DEFINED BENEFITS are financial disasters to any business, thus all businesses focus on the known, i.e., defined CONTRIBUTIONS alone.

Stealing from the young who silently shoulder the costs and bear the burden of unfunded promises of these programs to enrich the old seems to describe the Governments expansion of entitlement benefits and other government services, along with the taxes young people will have to pay to support them, mostly to subsidize older Americans.

The inmates know that debt for our future generations buys votes. Over the decades, the proven “concept’ practiced by voters is to defer as much financial responsibilities as possible from our current financial responsibilities to future generations, that have no votes on the subject.

Currently, it’s the future generations that will have the responsibilities to pay for the unsustainable pension programs, other boondoggle projects, and added inefficiencies built into our government. Simply stated, if we cannot afford it today, pass it off to the future generations to minimize any impact on our current lifestyles.

Virtually all elected officials are heavily financed by unions which are focused on entitlements for their current members. Thus, no changes can be expected in the foreseeable future for elected officials to ever abandon their source of votes.

It’s unfortunate that those future generations, unable to vote today, will bear the costs of many enacted entitlements and boondoggle projects.

By: Bill 'Right Wing' Gore

Bill 'Right Wing' Gore — Tue, 22 Nov 2016 16:15:30 +0000

Oh yeah baby.
A good stiff cup of reality intrudes into California Public Employee pension la la Land.
That old 8% Actuarial Rate of Return belongs in a museum with buggy whips and solid one ounce silver dollars. When that falls you will see 2 things:1) massive reduction in benefits for current retirees as the ponzi scheme collapses 2)the final gasping end of the defined benefit pension for public service, along with all the other attendant charades, such as DROP plans….Oh, and don’t look for a federal bailout from the TRUMP administration. You folks made your bed, now ya got to lay in it.