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When pensions run dry...
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<blockquote data-quote="brett636" data-source="post: 792797" data-attributes="member: 249"><p>I know this is a small town with a small pension that failed, but the conditions that caused it to fail can cause much larger pensions to do the same. I certainly hope nobody here ever has to deal with this, but let this be a warning that relying on someone else to manage your retirement for you is not a good idea.</p><p></p><p>What is even scarier is that public employee pension funds across this nation are all on the same path this town found its fund in. In California alone the unfunded liabilities of public employee pension funds is $40k per family. If this is allowed to continue expect to see a lot more of what is occuring in this small Alabama town.</p><p></p><p><a href="http://www.cnbc.com/id/40791768" target="_blank">http://www.cnbc.com/id/40791768</a></p></blockquote><p></p>
[QUOTE="brett636, post: 792797, member: 249"] I know this is a small town with a small pension that failed, but the conditions that caused it to fail can cause much larger pensions to do the same. I certainly hope nobody here ever has to deal with this, but let this be a warning that relying on someone else to manage your retirement for you is not a good idea. What is even scarier is that public employee pension funds across this nation are all on the same path this town found its fund in. In California alone the unfunded liabilities of public employee pension funds is $40k per family. If this is allowed to continue expect to see a lot more of what is occuring in this small Alabama town. [url]http://www.cnbc.com/id/40791768[/url] [/QUOTE]
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