Pension shortfall may be even worse

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Pension shortfall may be even worse

Post by SamCogar on Wed Mar 09, 2011 7:33 am

.

And some of you all thought my ....... "visionary" estimate of $14 to $20 billion was just a lot of crap, ........ right. Razz Razz Razz Razz

West Virginia lawmakers face a hole that could be as large as $13 billion

Under government methods of accounting, state and local governments face pension shortfalls of at least $344 billion, according to the Center for Retirement Research at Boston College.

But even that massive number may be way too low.

According to the center's director, Alicia Munnell, when the accounting is revised to value future payments more accurately, the unfunded liability grows to more than $1.9 trillion.

Under this method, West Virginia's $7 billion unfunded liability for pensions becomes $13 billion.

http://www.dailymail.com/Opinion/Editorials/201103070527

And that doesn't include all the unfunded liabilities that West Virginia taxpayers are now legally responsible for "paying off".


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Re: Pension shortfall may be even worse

Post by Aaron on Wed Mar 09, 2011 9:27 am

So you fancy yourself one of those visionaries that have a right to lie to the American public nancypants?
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