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States face a $1 trillion pension shortfall

gdgyva said:
The U.S. is facing a $1 trillion pension shortfall because states aren't paying enough money into their retirement plans for public workers.

Just 15 states contributed enough into public pension funds in 2014 to both pay retiree benefits and start to pay down their debt, according to a Pew Charitable Trusts report released Wednesday.

In that year, state-run retirement systems had a $934 billion gap between benefits promised and how much is saved to fund those payments. Because of strong investment returns, that's a smaller shortfall than the previous year.

But preliminary data shows that the funding gap will grow again in 2015, topping $1 trillion -- thanks to weaker returns.

"The lesson here is that state and local policymakers cannot count solely on investment returns to close the pension funding gap over the long term," the report said.

They also need to change their funding policies so they start paying down their pension debt -- which means contributing more than 100% of the needed funding to meet benefit obligations.

The 15 states that did contribute enough in 2014 are: West Virginia, New York, Indiana, South Dakota, Louisiana, Utah, Wisconsin, Oklahoma, Tennessee, Nebraska, Maine, Idaho, Vermont, North Carolina and Delaware.

States face a $1 trillion public pension shortfall - Aug. 24, 2016

and it just keeps getting worse and worse for the taxpayer

and you and i both know, the feds will bail them out....

just as the states will bail out the cities and counties who let their pension issues get out of hand

pensions just dont work anymore....not with the old numbers....it has been proven time and time again

we are living too long....cant work for 40 years, and collect for another 40 years after that

the numbers just wont work
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Well, they COULD work if the amt of the pensions was smaller. Many people work for 40 years and fund their own retirement, with the supplement of Social Security. A pension could work like Social Security: as a supplement.

Rather than saying "pensions don't work," it's more accurate to say, "pensions don't work in the same way they did 40 years ago." They can be made to work, though. If you think they are good. I think some who say outright they don't work, just don't want them to exist at all.
 
Fearandloathing said:
Yah, yah, yah.........

You know what? We have conservatives in Canada too? And they say the same things, over and over and over. The first time I ever heard about illegal voting I was six...
62 years later I hear the same ground up ****. and I have the same reply I have had for over 40 years. Show me.

If it is so easy, so widespread and so many people know about it as post on it, then where the **** is the evidence? I was a reporter for 30 plus years. In all these years through hundreds of elections, civic, provincial, federal, American I have been listening to this ongoing claptrap. I have been demanding evidence for almost a half century.

Do you know how many cases of illegal voting I have ever uncovered after having actively looked?

0

That's zero as in the intelligence of people who continue to put out this piss wattle propaganda.

FFS you won the white house and both houses and you're STILL whining. ******s
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Do non-citizens vote in U.S. elections?
 
Moderate Right said:
Do non-citizens vote in U.S. elections?
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I am terribly sorry but I have never heard of "Science Direct". I did not have the time to find where it even mentioned Canada.

And since the item opens with an apology about data, I am disinclined to believe any interpretation coming from the Trump crowd.

"in spite of substantial public controversy, very little reliable data exists concerning the frequency with which non-citizen immigrants participate in United States elections. Although such participation is a violation of election laws in most parts of the United States, enforcement depends principally on disclosure of citizenship status at the time of voter registration"

The truth is that yes, it might happen now and again, and yes during the 50's it was rumored that both parties got votes from the grave, however despite several large investigations by the RCMP no pattern of fraud has been found.

I think your science pals are worried about our laws which I assume are much more lax than yours. And some conservatives in Quebec are scared ****less because we allow women to vote while wearing a veil. [Those cases have also been investigated] I can tell you that over 30 years as a journalist I heard accusations during every election I covered,. but never found a shred of evidence let alone proof.

Oops, forgot Trump people hate evidence

And I know how anything Muslim sets you guys off.
 
natsb said:
According to the SSA web site the excess money, now and always, went into Special Securities. Never has the money been borrowed.

Special Issue Securities
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Greetings, natsb. :2wave:

In 1968, LBJ was the first POTUS to raid the SS Trust Fund to help pay for the VietNam war, because he did not want to ask for tax increases. I guess raiding could be considered the same as borrowing, and a few other Presidents after him have done the same. IOU's were used to account for the money taken, but to date over several trillion dollars are owed to the SS Trust Fund, since the money has not yet been repaid. I don't know where that money is supposed to come from, or who is supposed to repay that money, though. :shrug:

Edit: I'm glad that's not my problem! :mrgreen:
 
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