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Old 01-04-2013, 17:29   #12
dherloc
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Join Date: Jan 2009
Location: Florida
Posts: 1,249
Quote:
Originally Posted by Mr981 View Post
http://www.bloomberg.com/news/2012-0...roup-says.html

Moody's has it at about $2 trillion; the report states that the average pension is 41% funded--Yipes!

Apparently, one of the major culprits was the optimistic expected return on the pension fund investments--typically pegged at 8%. CALPERS earned just 1% in the past year indicating how far off even the major pension funds can be.

Naturally, the tax payers will have to make up the difference.

1% Incredible...imagine how much the fund managers are making on that money to make that 1%. Good thing they beat the market.
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