No News is Good News With...
Many if not most defined benefit pensions are underfunded due to excessive growth assumptions and low level fiduciary responsibility. Ive ranted on here before how my own DBP through the labor union is near worthless. Not in the mood to rant again not right now anyway. Come to think of it my plan is headquartered near Chicago.
Wow River chaser. That 1% of value increase in property tax is huge. How the state of IL can’t make ends meet on their pension when they don’t even have to pay into Social Security is reprehensible. That means they can use that employer portion of 7.5% of salary/ wages towards their pension. And yet they are still tens of billions underfunded.
How Illinois is looking to solve the pension failures
problem is it solves only 1% of failing plans
Wasnt it Roy Rodgers who quippped that purpose of financial disaster to to remind us that the most educated folks arent so smart.