Pension Formulas News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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, it's not just, now, the legislature that has been allowing these, the generous pension formulas, but it's a salary that's 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 worst abuses have largely been rooted out and there has been some legislation passed to scale it ba...

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, they're saying, look, we can't afford our pension costs. so rather than change the pension formulas, rather than dial back some of the benefits we're going to borrow from the pension fund that we're 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 into trouble in the 1970s. it borrowed money paved on something called revenue anticipation. it...

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, it's not just, now, the legislature that has been allowing these, the generous pension formulas, but it's a salary that's 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 worst abuses have largely been rooted out and there has been some legislation passed to scale it ba...