Archive for the ‘Public Pensions – General’ Category

Fossil-Fueled Front Group

That is how the Institute for Pension Fund Integrity (IPFI) has been labeled as they produce white papers supporting the positions of their backers including one that came out this week on The Impact of Political Decisions on Public Pensions which looks to drive home the point that “pension funds would lose millions of dollars if they divest from fossil fuels”, thus harming participants. They cite studies done in New York City, Colorado, and California but ignore a few things:

Continue reading

# 1 Threat Facing the Global Economy Today

And according to Robert Kiyosaki the money-media is not covering it:
.

.

With some examples from around the world, it is….

Continue reading

What Happens to Retirees When the Money Runs Out?

Along with Prichard, AL and later Detroit, MI it was Central Falls, RI in 2011 that became a cautionary tale for what happens when public pensions go unfunded and CBN decided to follow up:
.

.
More follow up:

Continue reading

NASRA Data (3) Amortization Methods

High interest rates get the attention, such as it is, when it comes to understating contributions that fund benefits in public sector pension plans but there are also gimmicks to keep payments low on the unfunded liabilities that inevitably develop. Here they are as taken from NASRA data where amortization methods were reported for the first (2001) and last (2017) year.

Continue reading

NASRA Data (1) GASB Funded Ratios

The National Association of State Retirement Administrators (NASRA) has been pulling plan-level data from the most recent Comprehensive Annual Financial Reports and Actuarial Valuations since 2001 for what are now 180 public pension plans: 114 administered at a state level and 66 administered locally.  Their Public Plans Database covers 95 percent of public pension membership and assets nationwide and their FY2017 update is out including a raw spreadsheet that needs manipulation to tell some relevant tales starting off with the latest funded ratios for those plans that report GASB numbers.

Continue reading

Pension Crisis in AAA States

Missouri has an AAA bond rating (for now) yet the discussion in the state with only the 35th worst pension crisis according to a recent comparison (yes, New Jersey is # 1 on this list too) is of a looming pension crisis where Deputy State Treasurer Chris Wray mentioned a comparison done of the pension funded status of AAA-rated states:

.

.

Here is that data:

Continue reading

The Actuary Documentary

The actuarial profession has not received much attention from filmmakers since these clips from a 1948 classic:
.

.
However that may all change if the New York City Office of the Actuary (NYCOA) has its way.

Continue reading