GET FREE E-MAIL UPDATES: SEND US YOUR EMAIL ADDRESS WITH SUBSCRIBE IN THE SUBJECT LINE
or subscribe to our
Twitter service

UNDERNEWS

Undernews is the online report of the Progressive Review, edited by Sam Smith, who covered Washington during all or part of ten of America's presidencies and who has edited alternative journals since 1964. The Review, which has been on the web since 1995, is now published from Freeport, Maine. We get over 5 million article visits a year. See prorev.com for full contents of our site

March 9, 2009

HIDDEN PENSION FIASCO MAY FOMENT ANOTHER $1 TRILLION BAILOUT

Bloomberg - Public pension funds across the U.S. are hiding the size of a crisis that's been looming for years. Retirement plans play accounting games with numbers, giving the illusion that the funds are healthy. The paper alchemy gives governors and legislators the easy choice to contribute too little or nothing to the funds, year after year.

The misleading numbers posted by retirement fund administrators help mask this reality: Public pensions in the U.S. had total liabilities of $2.9 trillion as of Dec. 16, according to the Center for Retirement Research at Boston College. Their total assets are about 30 percent less than that, at $2 trillion.

With stock market losses this year, public pensions in the U.S. are now underfunded by more than $1 trillion. That lack of funds explains why dozens of retirement plans in the U.S. have issued more than $50 billion in pension obligation bonds during the past 25 years -- more than half of them since 1997 -- public records show.

The quick fix for pension funds becomes a future albatross for taxpayers.


1 Comments:

Anonymous Anonymous said...

GrEeTiNgS, www.prorev.com!
[url=http://brazil.mcneel.com/members/Dove-Si-Puo-Ordinare-il-Kamagra--Online.aspx ] ordina kamagra [/url]
[url=http://brazil.mcneel.com/members/Il-Cialis-Generico-Si-Puo-Acquistare-in-Negozio.aspx ] acquista cialis in Italia[/url]
[url=http://www.playlist.com/blog/entry/12692371715 ] compra viagra online[/url]
[url=http://www.playlist.com/blog/entry/12692376835 ] vendita propecia generico[/url]
[url=http://brazil.mcneel.com/members/Ordinare-il-Levitra-Generico-Senza-Ricetta-Online-in-Italia.aspx ] ordina levitra in Italia[/url]
[url=http://fourfourtwo.com/members/Il-Viagra-Si-Puo-Comprare.aspx ] compra viagra in Italia[/url]
[url=http://www.playlist.com/blog/entry/12692373251 ] vendita cialis generico[/url]
[url=http://www.playlist.com/blog/entry/12692375043 ] compra kamagra generico[/url]
[url=http://www.playlist.com/blog/entry/12692376579 ] acquista propecia in Italia[/url]
[url=http://ecometro.com/Community/members/Il-Propecia-Si-Puo-Comprare-a-Prezzo-Piu-Basso-in-Negozio.aspx ] compra propecia in Italia[/url]
[url=http://fourfourtwo.com/members/Il-Cialis-Si-Puo-Comprare-a-Prezzo-Basso-Online-in-Farmacia.aspx ] compra cialis [/url]
[url=http://www.thinkmobile.it/members/Il-Kamagra-Generico-Si-Puo-Comprare-12/default.aspx ] compra kamagra in Italia[/url]
[url=http://brazil.mcneel.com/members/Il-Kamagra-Si-Puo-Comprare-Online-in-Negozio.aspx ] compra kamagra generico[/url]
[url=http://ecometro.com/Community/members/Il-Cialis-Generico-Si-Puo-Acquistare-a-Prezzo-Basso-Online.aspx ] acquista cialis in Italia[/url]
[url=http://fourfourtwo.com/members/Ordinare-il-Propecia-Generico-Senza-Ricetta.aspx ] ordina propecia [/url]
[url=http://ecometro.com/Community/members/Come-Ordinare-il-Cialis--a-Prezzo-Piu-Basso-in-Farmacia.aspx ] ordina cialis in Italia[/url]
[url=http://www.playlist.com/blog/entry/12692375555 ] vendita kamagra in Italia[/url]
[url=http://fourfourtwo.com/members/Acquistare-il-Levitra-Generico-in-Negozio.aspx ] acquista levitra [/url]
[url=http://www.playlist.com/blog/entry/12692374275 ] acquista levitra generico[/url]
[url=http://www.playlist.com/blog/entry/12692374019 ] compra levitra in Italia[/url]
[url=http://ecometro.com/Community/members/Dove-Comprare-il-Viagra.aspx ] compra viagra online[/url]

February 18, 2010 12:18 PM  

Post a Comment

<< Home