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Deflation Could Heat Up Pension War
Long Term is the key. In fact, when we examine the S&P 500 index between 1/1/1940 and 12/31/2009 the average rate of return, adjusted for inflation, is 8.20% ======================= DJIA 5-13-1999 = 11,100 (when SB 400-3%@50- was passed) DJIA 8-26-2010 = 9,9864 A full 1,114 point LOSS over 11 years So, where is the ROI??????????????????????????? No 8% there-not even 1/10 of 1%— August 26, 2010 9:15 p.m.
Deflation Could Heat Up Pension War
The lowering the rate to what might be the perceived 2010 economic reality will produce a negative effect on city budget. It will force the actuary to INCREASE the City ARC or Actuarially Required Contribution thus further eroding the City's general fund. ================== And yet another reason to BK the pension system b/c they are NOT sustainable using a realistic discounted rate. You cannot fund a 3%@50 pension with 5% returns over 30 years unless you're contributing twice the amount of the salary into the fund. So unelss we want to boost the pension fund contributions to 5 times the city budget they have to be adjusted-to a far later age and a lower pension.— August 26, 2010 9:12 p.m.
Deflation Could Heat Up Pension War
My point is the rate is not just picked out of the air or pegged by throwing a dart. ============== It doesn't mater how they are "picking" the rate-throwing darts or otherwise-the assumed rate of return is too high. ALL the experts say that anything above 6% is too high-6% may be yoo high-the only ones who don't say that are the pension systems themselves, and we know how accurate they have been in the past. See Fed Reserve Kohn's comment in post #1.— August 26, 2010 9:09 p.m.
County Unemployment Rate Jumps to 10.8%
I think surfpuppy would agree that in most cases it's pretty easy to tell when someone is just trying to yank someones chain or is grinding an axe against someone with a contrary view/opinion. =========================== Yes, I do, in fact it happens almost every time JustClueless makes a post. Always has some derogatory comment aimed at me personally. Hey, hate the messege, not the messenger. My messege is clear on these public employee pay and pension issues, but I am not out to personally attack anyone.— August 26, 2010 6:03 p.m.
"Rolls Out, Rolls Out, Oh How the Money Rolls Out...."
. Some are getting $12,000-$15,000 a month of retirement pay. That's a nice chunk. If only the City could afford to pay it. ==== Well Don, thos pensions, it's not going to last. The money is not there. You saw the stats for the sales tax receipts, dropped thru the floor-they may be in China by the time this depression ends in who knows how long. I will say this, Obama has been in office for close to 2 years, and it is not looking good for him. The bailouts are very upsetting to me and many others. They look like campaign pay backs, and do nothing but harm the country IMO. Having the two yahoos Geitner and Bernanke claim the depression is over strains the Obama admin credibilty even more, to the point of losing their support-and vote. You can count me in that group pretty soon. am giving Obama the entire 4 years to turn this mess around, but 4 years is plenty of time and if he fails I will vote for someone else (oh please God-don't let Palin win the republican ticket!!!) We have never seen gov default in the history of this country, but zi predict we will within the next 5 years. It will be like dominos, once one falls, then a few more, then the tsunami.— August 26, 2010 6:01 p.m.
What??? Mr. Upbeat, Tony Robbins, Warns of Gloom
so you're only 5'9", surpuppy?!?!? =============== Only when standing on all 4 paws.— August 26, 2010 5:40 p.m.
"T4M"
“All the links led to ads that specified ‘T4M.’” ================= Is there a special Clorox for your eyes. I didn't need to see that.— August 26, 2010 3:11 p.m.
"T4M"
BTW, Cosmopolitan is as a stupid, vapid and commercial magazine as Maxim or other men's magazines. ============= I'm sorry, but Maxim, FHM and the like are high qaulity, journalistic publications :)— August 26, 2010 3:08 p.m.
What??? Mr. Upbeat, Tony Robbins, Warns of Gloom
BTW, I had a co worker back in the mid 90's who was a Tony Robbins butt kisser and worshipped the guy. My buddy was at the top of the Robbisn motivational scam food chain-the one where they have a week long pow wow in Hawaii (that may be where they do the coal walking skit), and that seminar was tens of thousands of dollars to attend, and this was 17 years ago. How those sheep threw away their money to a snake oil salesman shows how even the smart and intelligent can be conned.— August 26, 2010 1:46 p.m.
"Rolls Out, Rolls Out, Oh How the Money Rolls Out...."
Please keep us posted on this.............if posssible do we have the ages of the reitrees??? I mean we know Kolander is like 75, but many we do not know the ages of-especially those who are low profile...... I would like to see how many are in their 50's, 20+ years before the average mortality rate for both men and women.— August 26, 2010 1:42 p.m.