Archive for the ‘Uncategorized’ Category

A moment, please

Good morning:

I am working on a second installment of my series but this is not it.  I have noticed the comments can be very critical.  This does not bother me.  But there is something very distressing to me.

When did we forget that wonderful poem by Robert Fulghum; All I Really Need To Know I Learned In Kindergarten.

Most of what I really need
To know about how to live
And what to do and how to be
I learned in kindergarten.
Wisdom was not at the top
Of the graduate school mountain,
But there in the sandpile at Sunday school.

These are the things I learned:

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New Jersey Budget After Christie

Incoming governor Phil Murphy started making the rounds of talk shows where he gets five minutes to give his spiel on economic growth and discuss legalizing marijuana for recreational use.
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While back in the real world:

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Dumping Sweeney: Job Number One For NJEA


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There is also a report that provides some history of the New Jersey Education Association (NJEA), politics, and the pension system. Below are excerpts along with a look at whether the NJEA will succeed based on past election results in Sweeney’s district.

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Tribute to ASPPA Past Presidents

The most moving experience I ever had at an actuarial convention was at the 2008 COPA conference in Chicago where, as described in the Winter, 2009 ASPPA journal tribute to Edward E. Burrows written by G. Patrick Byrnes:

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Mercatus State Ranks – 2017

The Mercatus Center just released their 2017 ranking of states by fiscal condition:

Based on the FY 2015 comprehensive annual financial reports of the 50 states, this study ranks states’ fiscal solvency using 13 metrics that assess the extent to which the states can pay short-term bills and meet longer-term obligations. State finances are analyzed according to five categories of solvency: cash, budget, long-run, service-level, and trust fund. These five categories are combined to produce an overall ranking of state fiscal solvency.

New Jersey solidified its hold as the worst of the worst with a per capita debt of $16,821, compared with a nationwide average of $4,272 and $12,118 for fiscal basket-case Illinois, but with an explanation:
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EA7: Regulatory Climate Change

If there was an underlying theme to the 2017 Enrolled Actuaries meeting it was uncertainty – as to what the tax laws will be and how the current laws would be interpreted and regulated. From session 701: Dialogue with the IRS/Treasury here are my notes on issues not previously covered:

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707 Crash Probe

What hit the Road Carriers Local 707 Welfare Fund (Local 707) is still out there and expect dozens of other multiemployer (union) plans to be in its flight path over the next few years.

MPRA is not working and calls for more of federal bailout will go unheeded.

How did we get here? The black box could be the 5500 filings.

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