You could go to a hundred people affected by this shortfall, and ninety-eight have no concept or understanding of the meaning of ‘shortfall’. As far as they are concerned....the money will magically arrive each month.
To: SeekAndFind; All
It's even much worse that..Moody's here attempts to get a handle on the problem, by using more reasonable assumption for future rates of return. That's good, but actuaries haven't really yet begun to factor in that today people are living much longer than just a generation ago.
Take a NYC cop..who today can retire on half pay after 20 years.. if he joined the NYPD at age 20, he's out today he COLA increases..and the numbers are staggering..
And Moody's study does NOT include the cost of promised medical benefits..
posted on 06/29/2013 5:15:16 AM PDT
(Due to all the WH scandals, MSNBC is changing its slogan from "Lean Forward" to "BOHICA")
The numbers are much worse for State with democrat leadership... those folks are as corrupt on the local level as the national level.
posted on 06/29/2013 6:50:34 AM PDT
(... liberal anger - - the privileged wheeze of entitled brats ... Greenfield)
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