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Old 01-06-2015, 11:35 AM
 
Location: Great State of Texas
86,093 posts, read 72,479,637 times
Reputation: 27565

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Quote:
Originally Posted by luv4horses View Post
The problem with pension funds is always in the management of funds, and the accuracy of predicitions of future yield for the funds.

All funds are invested. Not all investments turn out to have been good. In fact, due to no fault of most managers, some investments this past decade were based on shoddy information or faith rather than fact. It is no wonder there is chaos in the funds at this point.

Now the problem is how to distribute the remaining funds most equitably. And how to keep this from happening going forward through transparency and perhaps regulation of entities providing data to investors. You can't change the past, unfortunately.
You'd be surprised to see how many pension managers just turned all their money over to "Goldman Sachs Asset Management" and left all the investing to them.


Both GS and JPM have made the rounds with both public and private pension Funds to take over management.
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Old 01-06-2015, 03:57 PM
 
143 posts, read 132,601 times
Reputation: 802
Quote:
Originally Posted by luv4horses View Post

Now the problem is how to distribute the remaining funds most equitably. And how to keep this from happening going forward through transparency and perhaps regulation of entities providing data to investors. You can't change the past, unfortunately.
You can't change the past, but you can re-create it. Congress is busy reversing the safeguards set in place after the last meltdown. We can expect this effort to accelerate with the makeup of the new Congress.

http://dealbook.nytimes.com/2014/12/...-its-job/?_r=0
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Old 05-11-2017, 09:41 PM
 
Location: Floyd Co, VA
3,415 posts, read 5,132,424 times
Reputation: 7231
Default Update

In Sept of 2016 my plan did submit it's proposal for cuts to the Treasury Dept. I would receive only 40% of my original amount starting in July 2017 if it was approved. However, Treasury rejected the plan and provided a letter stating what issues they had with it. It remains to be seen whether or not the Board of Trustees will make the needed revisions and resubmit it. I have no idea how long that process might take, but perhaps as long as a year.

So I have more time to continue working had at maximizing my savings. That is the up side of the issue. The down side is that the cuts could be even larger. Based on that 40% figure I would have needed to pull about $1,000 a month from savings to meet my basic, routine expenses.

At what point will I need to do things like replace my 1996 Suburban which has 201,000 miles on it. Being a homebody means that I'm now only putting about 6,000 miles a year on it and it's still running strong. I just replaced the water heater. It, as well as all the other appliances are 15 years old so the need for a new washer or dryer at some point is a reasonable assumption. The roof is also in need of some minor repairs but hopefully will not need replacing during my lifetime.

I would like to stay in my current home and the best case scenario would be to sell off somewhere between 15 and 20 acres of the land. This parcel can be divided one time and I don't need 28 acres. That might give me enough so that I could apply the proceeds to the mortgage and get a new one for a much lower amount and bring that expense down significantly. I'll be talking with a real estate agent soon to get some figures.
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Old 05-12-2017, 12:57 PM
 
Location: Northern panhandle WV
3,007 posts, read 2,169,240 times
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Thanks for the update, keep us posted!
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