Posts Tagged ‘ratio’

Uneducated Guessing

Detroit’s Police and Fire Pension Plan is either 50% or 96% funded depending on which actuary you believe.  mlive.com is wondering about that and they contacted a corporate law professor for the pat answer:

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Public Pension Propaganda (2) – The Lie

“The vast majority of statewide plans are in good financial shape.”

Hank H. Kim, Esq. Executive Director and Counsel National Conference on Public Employee Retirement Systems

So says a lawyer and purported expert in this field to a bunch of reporters. NCPERS averaged 216 responders to a survey who happened to have a funded ratio of 76.1% and Fitch ratings says 70% or above is adequate. 
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Who’s to argue?
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Me.

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