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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: i-node who wrote (507430)	9/10/2012 10:50:20 PM
From: goldworldnet	Respond to of 793914

In the long run every problem must be faced, but what surprises people is that it's usually sooner than expected. * * *

To: i-node who wrote (507430)	9/11/2012 6:20:54 PM
From: brushwud	Respond to of 793914

Pensions are a huge looming problem for the country that is scarcely getting a mention. It is far easier for elected officials to give people pension benefits than it is salary. Taxpayers complain about funding the here-and-now, but 30 years from now, they don't give a flip. My teacher used to us "In the long run, we're all dead". Your teacher must've been J. M. Keynes or in his "thrall". Yeah, no one seems to care about unfunded pension liabilities. But I recently became aware that my state's pension fund, Calpers, offers a 3.6% discount to agencies which pay their entire annual required employer contribution before the first payroll of the year. I mean, write 1 check instead of 26 and save 3.6% by the end of the fiscal year. For my county, that's $1 million/year. (This could be the single best idea of my life.) They're getting about 0.5% on invested funds and paying about 0.5% on borrowed funds, so to me this is a no-brainer even if they have to borrow the money. But no, that's way too radical of a concept. I said if saving $1 million/year is just too scary, why not do it only for the deputy sheriffs' plan and save $100K/year? Still no. I haven't found an agency yet that takes this discount which is offered to all of them. 50 weeks from now and they still don't give a flip.