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Old 01-04-2013, 15:50   #1
Mr981
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Report has public pension short fall at $4.6 trillion

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.
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