Pension Formulas News Today

Haunt the state. i mean, we have billions of dollars, unfunded liabilities. now, in this particular case, what you had with the city officials signed off on giving her bigger and bigger and bigger salaries, so, its not just, now, the legislature that has been allowing these, the generous pension formulas, but its a salary thats completely out of control. >> is this a freak case or others serve in the pipeline that california has trouble when these pensions come through? >> i think some of the wo...

Peter to pay paul? this is it. this is a big gamble because what these cities and counties are doing is, around the state of new york as well, theyre saying, look, we cant afford our pension costs. so rather than change the pension formulas, rather than dial back some of the benefits were going to borrow from the pension fund that were drawing from. this is like the new york lottery on steroids except the return is probably just as problematic. it is insane! this is exactly how new york city got...

Haunt the state. i mean, we have billions of dollars, unfunded liabilities. now, in this particular case, what you had with the city officials signed off on giving her bigger and bigger and bigger salaries, so, its not just, now, the legislature that has been allowing these, the generous pension formulas, but its a salary thats completely out of control. >> is this a freak case or others serve in the pipeline that california has trouble when these pensions come through? >> i think some of the wo...