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RE: Public pension unfunded liabilities will crush the economy
Illinois is one of the worst off...luckily i live in Washington state. 4th from the top of FUNDED pension liability obligation satiisfaction. I'm still not counting on my pension being available when i'm old though. Just in case!!
I hope your pension is being honest with it's pensioners. Most built their plan on a 7%+ return on investments to meet their requirements which, until recently has not come close in the last 8-10 years. If you get an opportunity to cash out, you may want to take it (not financial advice). Thank you for your comment.
Well as of late they are at 6% which isn't awful when you look at other states like cali and wisconsin etc...Only problem is they are wrapped up in this hyper-bubble stock market just like anyone else's plan. If interest rates were allowed to normalize these funds wouldn't have to speculate so much on risky stuff. But that would collapse the American economy too. Not sure which ones better! lol