Maine’s public pension fund earned double-digit returns in six of the past nine years. Yet the Maine Public Employees Retirement System is still $2.9 billion short of what it needs to afford all future benefits to all retirees.
“If the market is doing better, where’s the money?” said one of these retirees, former game warden Daniel Tourtelotte.
Too many unnecessary people on the payroll. Allowing 'double dipping' for years. Excepting high returns for what is an expenditure and drain on the very thing it depends on.
And the government allowing several corporations to ignore their own pension plans.
Because most of the pensions were underfunded and many controlled by the state🙄 Then in PA GovernorTomWolf vetoed bipartisan pension reform and made it waaaay worse. Money is leaving the state!
Because central planning works so well...
my standards are my standards.
can't you see people racing to achieve american standards? What's up with the mold? it's part of the communist standards and known and easy to have.
and, if we were into telling the truth anymore, thanks to catastrophic mistakes and allowing special friends to steal by federalreserve, they are now in a box -- and the markets can NEVER be allowed to go down or correct....
and let's not forget, federalreserve allowing the money center bankers to steal billions in the meltdown.....can't forget that because the 'right' people secured multi-generational wealth on the backs of the middle class, or aren't we allowed to talk of this?
But mostly by a lack of funding. Pension assets should be legally separate, out of the reach of bankruptcy proceedings, and laws should require adequate funding. Defined benefit pensions work. 401k’s have shifted billions - saving companies and costing employees.
For those in doubt, the question of what to do with unaffordable pension promises made by (and often to) baby boomers will be one of the defining issues of the next quarter century. Ask yourself whether candidates are protecting the future or the past...
bs - surge retirees! Basic math vs pension robbery
The money contribute bay the pensioners is no the problems,it go behind the doors to system base on immediate profits,doesn't matters the consequence and in first person....Me,Me and Me....
No more socialism for baby boomers! Stop pensions now! (Sarcasm)
Short-term profit mongering at the top instead of long-term wealth generation strategies as part of company culture
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