Originally Posted by jpa
NV PERS had a return for 2012 of 16%. Since 1984 they have a net return of 9.3%, also greater than the 8% expected. So does that mean I should get a refund of my contributions since they did better than their expected rate of return? If there was a shortfall you would expect that I would have to contribute more, right?
The problem with a lot of pension plans (CALPERS included) is that the money wasn't put into the plan to be invested as required. Instead the lawmakers wrote an IOU and spent the money elsewhere. Since that money wasn't invested, there's no way for it to achieve the rate of return required to sustain the system.
This kind of misappropriation committed by politicians across the country would land everyone involved in prison if it were done in private business. If the systems are underfunded and going broke it's because of mismanagement at the highest level, not because they're unsustainable.
The politicians spent your contributions or the taxpayers' contributions?
If it is taxpayers contributions how is it misspent? Did they break the law?
Getting to the point now, IF more of society were just like you are (and lets not forget CF in this) in your law enforcement grudge. I would spite the Constitution and do everything in my power to see that your protections were stripped away as soon as possible. I would do this just to throw it in your face because I could. I LOVE the Constitution BTW, I just really dislike dirtbags like yourself. -- BlackPaladin