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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: James F. Hopkins who wrote (200440)	10/26/2002 9:50:42 PM
From: Tommaso	Read Replies (4) \| Respond to of 436258

The thing about state funds is that they are supposedly guaranteed by state tax revenues. We will see. The awful thing is that some of them had crept steadily up from 75% funded 25 years ago to more than 100% funded, and the trustees had got seduced into stock market inestments at exactly the wrong time. So they will be back where they were years ago. Also, some states are cutting their contributions to these funds to balance their budgets, because of the "surpluses" just as those are disappearing. The bubble made a fool out of nearly everyone.