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Forget The Phony Pension Accounting, Here’s How Much Your State Pension Is Really Underfunded

The phony assumptions that go into calculating public pension underfundings in the United States are a frequent topic for us.  As our readers are aware, state pension administrators are given fairly wide leeway to simply pick a discount rate out of thin air.  Of course, since pensions are nothing but a massive stream of future […]


“Excessive Pockets Of Gluttony”: Meet PA’s Public Pensioners Making $500,000 A Year Courtesy Of Taxpayers

Liberal politicians in Washington D.C. often complain about the federal tax code being too regressive and thus placing too large a burden on low-income families while allowing “millionaire, billionaire, private jet owners” to get a free pass (one must to be willing to ignore actual statistics to reach this conclusion but lets just take the […]


It Begins: Pension Bailout Bill To Be Introduced This Week

Over the past year we have provided extensive coverage of what will likely be the biggest, most politically charged, and most significant financial crisis facing the aging U.S. population: a multi-trillion pension storm, which was recently dubbed “one of the most heated battles of a lifetime” by John Mauldin. The reason, in a nutshell, why […]


Kentucky Teachers Blast Pension Reform Plan; Warn That 401(k) Plans Will “Dismantle Public Education”

Graves County Superintendent Kim Dublin in Kentucky is apparently concerned that forcing her teachers to accept the same retirement plans offered to almost every private sector employee in the country would literally “dismantle public education” as we know it. Speaking to a local NBC affiliate in Kentucky, Dublin told reporters that she relies on the […]


Kentucky Teachers ‘Outraged’ At Thought Of Accepting Same Retirement Plans As Private Sector Workers

Last week we noted that, after months of planning and cogitating over how to address the failing public pension systems in their state which are somewhere between $40 and $80 billion under water, Kentucky’s Governor Matt Bevin and the leaders of the General Assembly’s Republican majorities released their highly-anticipated ‘plan’ which turned out to be […]


Stanford Says Soaring Public Pension Costs Devastating Budgets For Education And Social Services

A new study from Joe Nation of Stanford’s Institute for Economic Policy Research entitled “Pension Math: Public Pension Spending and Service Crowd Out in California, 2003-2030,” says that the devastating consequences of the ill-advised, Cadillac pensions doled out to America’s public employees over the past several decades are only getting started.  Looking back at taxpayer […]


Study Of 10-Year State Pension Returns Highlight Full Extent Of Public Pension Ponzi

A new study of public pension returns by Cliffwater LLC has found that the median U.S. state pension plan returned just 5.9% annually over the 10 years ended June 30, 2016.  Meanwhile, as Pension and Investments notes, the top performing state pension, the $15.6 billion Oklahoma Teachers’ Retirement System, was the only fund that managed […]


Mauldin: Americans Don’t Grasp The Magnitude Of The Looming Pension Tsunami

Authored by John Mauldin via MauldinEconomics.com, Total unfunded liabilities in state and local pensions have roughly quintupled in the last decade. You read that right—not doubled, tripled, or quadrupled—quintupled. That’s nice when it happens on a slot machine, not so nice when it’s money you owe. You will also notice in the chart that much of that […]


They’re Using Bernie Madoff Math To Hide A Crisis

Authored by Nick Giambruno via InternationalMan.com, Politicians are always generous with other people’s money… until it runs out. Near the peak of the late-’90s tech bubble, California’s legislature passed the largest pension increase in its history. Today, with as much as $750 billion in unfunded public pension debt, California has one of the worst pension […]