Land of Liabilities

Truth in Accounting on Monday sponsored a presentation by James E. Spiotto on how to address Illinois’ constitutional pension crisis.

Among the highlights:

California Rule:
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States addressing pension reform:
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Asbury Park impairment case:
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Negative Cash Flow in Illinois:
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If Central States gets a bailout:
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Full presentation with slides:

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7 responses to this post.

  1. Posted by skip3house on November 8, 2018 at 7:40 pm

    “…~ Math Problem….what ever else they come up with ~Keep flexibility in case…it doesn’t work….” About 1:21:37 of last….? lol

    Reply

  2. Posted by Norman S.Chevlin,CFP®️ on November 8, 2018 at 11:29 pm

    Working with a Retirement Income Specialist
    can offer you many options.

    Don’t make an irrevocable pension choice before we talk.
    Let me help you sooner rather than later.

    Nchevlin@financialguide.com
    Normsn S. Chevlin, CFP®️
    732-751-3003

    Wall Township, NJ

    http://Www.exploecfs.com/Norman_Chevlin

    Reply

  3. Posted by NJ2AZ on November 8, 2018 at 11:55 pm

    What has happened with the pensions is regrettable, but the root cause likes in the atypical demographics and technological innovation of the mid to late 20th century. Tomorrow would always be so much more bountiful than today, that governments could steal from the future abound because what they took would barely be noticed. Such a dynamic was sustainable for a few short decades while growth was immense, but now the party is over.

    Eventually the ‘young’ will realize they are getting shafted to pay for promises the ‘old’ made to themselves and also eventually they will have the voting power to change some things up.

    as a ‘middler’ (i’m not a boomer on the gravy train, nor am i young enough to really be getting burned by the generational theft), i’m really curious to see how this all plays out.

    Reply

    • Posted by Tough Love on November 9, 2018 at 2:02 am

      Quoting ……………

      “Eventually the ‘young’ will realize they are getting shafted to pay for promises the ‘old’ made to themselves and also eventually they will have the voting power to change some things up. ”

      Well stated !

      Reply

      • Posted by MJ on November 9, 2018 at 7:05 am

        The young already realize they are getting shafted, that’s why they are so in favor of a more socialist society and universal healthcare…….they are smart enough to see where that the current system is going to sh%t

        Reply

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