Walter Mead Nails 3 of 4 Conspirators

Fox Business is focusing on the public pension crisis and their latest video has Bard Professor Walter Mead describing the conspiracy among government officials, politicians and union leaders that got us here:



Yet conspicuous by their lack of mention….

Actuaries, who…

  • low-ball contribution amounts through gimmicks
  • tolerate these low-ball contributions not being deposited
  • I will be conventioneering with for the next few days at the EA meeting* 




Lots of sessions on public pensions (I can’t link to outlines since the materials “are copyrighted by the Conference of Consulting Actuaries.  While there is an exception for limited educational use, publishing these materials through your blog is beyond that exception.”  Obviously the CCA believes that you people would be reading 60 pages on GASB 67 & 68 interpretations for its entertainment value.)

Public Plan Funding

Public Pension Panel – Blue Ribbon Report

Public Plan IRS Requriements

GASB 67 & 68

One response to this post.

  1. Posted by MJ on March 23, 2014 at 8:55 am

    The professor stated the problem succinctly.


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