Name:	lucky67 -	Reply
Subject:	pensions
Date:	7/15/2020 6:19:20 PM

as ive pointed out before UN FUNDED pensions are a bomb waiting to explode--NY City's disclosed  9 (sic.) unfunded obligation exceeds $120 Billion--yes Billion--so all the cops retiring better hope they get their promised $$ --somehow ; and Chicago isnt far behind NYC in defecit liability--wonder why some smart journalist doesnt report on this nightmare ???

Name:	PTClakefan -	Reply
Subject:	pensions
Date:	7/15/2020 8:57:34 PM

That problem is not unique to those cities.  Underfunded pensions, both public and private industry are a big problem nationwide.  In some cities, monthly individual pension payments for police, firefighters, teachers, etc. can equal or exceed the amounts the pensioner would make if he/she were still working full time.  It is somewhat akin to a ponzi scheme; it works for a while, until it doesn't and then bad things happen.