4um: Illinois' Record-Setting Pension Debt Jumps To Over $300 Billion

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Title: Illinois' Record-Setting Pension Debt Jumps To Over $300 Billion
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URL Source: https://www.zerohedge.com/political ... on-debt-jumps-over-300-billion
Published: Mar 9, 2021
Author: Tyler Durden
Post Date: 2021-03-09 21:09:38 by Horse
Keywords: None
Views: 163
Comments: 2

Illinois is an outlier among states both for fiscal challenges from pension expenses and for its limited capacity to modify the benefit packages that drive these expenses.”
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#1. To: Horse (#0)
States pension funds and the federal pension funds are all the same, they never put the money in a bank, they spend it on stuff. They are hoping that there will be people paying into the fund, the real problem is when there is no one paying into the fund: that is the problem with the fund I am under, no one has put money into it since 2007.

Darkwing posted on 2021-03-10 7:24:49 ET Reply Trace Private Reply
#2. To: Darkwing (#1)
they spend it on things

I can tell you with certainty that the things they spend contributions on are investments in stocks. The Illinois State Pension fund made poor investments and the fund took a huge loss. Those who were receiving benefits iui ts were forced to take a 20% reduction in their payments. This was pure unadulterated mismanagement. ;)
"When bad men combine, the good must associate; else they will fall, one by one." Edmund Burke
BTP Holdings posted on 2021-03-10 8:37:35 ET Reply Trace Private Reply
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