The Federal Government May Bail Out State Pension Funds

 

 

 

 

 

 

 

 

US Public Pension Funds Show Massive Losses

Public pension funds in US states are facing their worst year of losses in history, exacerbating existing funding shortfalls and putting pressure on state governments to shore them up. 5
 
   

 

 

 

 

 

Pension Funds Dropped 20% 'Officially'

In the latest year to date census, the average state pension fund lost 20 per cent, according to Northern Trust, a fund company.  That's odd considering the stock market has fell 40%?

 
   

 

 

 

 

 

California's Giant Pension Fund

California’s Calpers, the US’s biggest pension fund, last week reported a loss of 20 per cent of its assets, or more than $40bn, between July 1 and October 20 this year.

State and local pension funds comprise a patchwork of 2,700 funds that manage $1,400bn on behalf of 21m employees, including teachers, firefighters and other municipal workers.

 Calpers had $300 billion under management
   

 

 

 

 

 

 

Non-Funding Is The Real Time Bomb

About 40 per cent are underfunded, meaning that they would not be able to pay the future pensions that employees have been promised. State governments have lifted pension benefits – a move that is politically popular – but have often failed to put in more money to pay for them.

The state promises the employee a pension of $30k a year, but they haven't put any money in the account.
 
   

 

 

 

 

 

Chicago's Pension Funds Are Ripe For Disaster

Richard Daley, mayor of Chicago, this year convened a taskforce to address the shortfalls in Illinois funds. For example, funding for the Police Fund has fallen to less than 50 per cent. 8
 
   

 

 

 

 

 
   

Eighteen Years On The Chicago Police Force

Lou Venda, a Chicago cop said, “We are risking our lives here every day, but we have no idea if the pension we have been guaranteed will be there when we retire.” 

   

 

 

 

 

 

The Pension Gurus

Susan Uhran of the Pew Center on the states, said: “The states will have to increase their annual contributions, and they may also ask employees to lift their contributions too.”
 
   

 

 

 

 

 

Zionist BS Artists To The Rescue

Nancy Pelosi, and her fellow Zionists, want the American taxpayer to bail out the states.   Her push this month for the $150bn second stimulus.
 
   

 

 

 

 

 

Some Risky Investments Stay Hidden

The people running these giant funds were lending to their friends. Jake Goldstein would lend $300 million to Bennie Klein of Tri-Star Ventures, and get back some commercial paper that guaranteed 9%. And what happened is Bennie bought 7% Fannie Mae notes, and use 2% of the $300 million, and after five years walked away, pocketing $290 million.

 
 

 
   

 

 

 

 

 

 

 

 

This Is Just Pure Unadulterated Robbery

First these pigs grabbed on to the control of these state funds, putting their fellow Zionists in $250k a year jobs, with real benefits, and real pension funds. Next these con-artists lend out billions to their pals. Then they parade around like peacocks at their country clubs rattling off their financial buzz words, hoping some teenage shiksas waitress will swoon over them at Bushwood CC.

Now if anyone of them had an ounce of common sense they would have put 20% in gold in 2004 at $260 an ounce, sold the stock market, dumped any real estate related investments, and gone into 4% US treasuries.
 

 

 

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