Calif. Forces Retirement Plan After Pension Failures

Posted by  $  nickursis 2 years, 8 months ago to Government
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For those of you still fortunate enough to live in the Peoples Republic of Kalifornia, look out, they want 3% of your income, on top of everything else. Unions driving a bus they have already crashed have now gotten it to start again, and will be back on the road again...Looters in power, gotta luv it when they come up with a new scheme...
SOURCE URL: http://www.newsmax.com/MichaelReagan/pension-california-brown/2016/09/18/id/748837/


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  • Posted by freedomforall 2 years, 8 months ago
    "which means the shortfall is closer to a billion dollars" (at current rates of return).
    I think he is optimistic by $999 billion since he says its already short by $290 billion at 650% higher rates of return. It should read $1 trillion shortfall.
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    • Posted by  $  2 years, 8 months ago
      I do believe you are correct. The problem is, like everything related to government, we get lies on top of lies to the point no one can tell what is going on. The Trillion mark is probably correct, and is totally unworkable, yet they think they can just steal "a little" from each worker, and give their looting rewards to their special interests. Someday people in Ca will quit partying, ogling Hollywood, and wake up to what a disaster that place is.
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  • Posted by  $  2 years, 8 months ago
    Wow, and just to follow up, what a deal (for some) they can get:

    http://www.latimes.com/projects/la-me...

    And here I was doing 20 years from the Navy to get 50% of base pay for a whacking big 13,000 a year, now up to almost 17,000 after 20 years of COLA. Some Union members can retire at 55? and get how much? No wonder they are broke, and needing that 3% whether you want to "give" or not.
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