America’s Coming Pension Crisis (retired, accident, years, support)
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The worse pension problem will be the next generation who will retire with NO pensions.
Nothing but their own money and SS to fall back on. Those of us with pensions should consider ourselves extremely lucky.
City bond rating downgraded :: CHICAGO SUN-TIMES :: City Hall (http://www.suntimes.com/news/cityhall/2570066,city-bond-rating-downgraded-080510.article - broken link)
City bond rating downgraded :: CHICAGO SUN-TIMES :: City Hall (http://www.suntimes.com/news/cityhall/2570066,city-bond-rating-downgraded-080510.article - broken link)
Its a world wide problem and its coming to a pension fund near you.
Reality is most of those are future costs not yet funded or gotten a return on investment. Reality for each and every state pensioner is not an article or a blog but the statement they get each and every year with the return on investment from the previous year and the amount of money their pension fund has in reserve. Even the much down trodden Illinois fund has about 20 years of reserves. Thus if you are 30 you might have one perspective however most of the people in this forum already are in or close to retirement so we have a shorter time frame. Just remember the many links to the fact that the top 100 public pension funds have over 2 trillion in reserve and that was based on fund reports last year. Only up now! You can't scare those about the sky is falling when they have their statement in hand. Remember many of your links are based on the performance of reserves in the fiscal year ending June 30 2009 which included a sorta big market crash. The new statements include a sorta big market up turn. Does make a big difference? I am sure you can see the significant increase in your portfolio over the same time period, most of us can unless we succumbed to the rain sellers and sold. You bring up Japan like that has a lot to do with the individuals STATE pension here. But if international is fair game how about this one!
http://money.canoe.ca/money/mymoney/canada/archives/2010/05/20100520-151903.html (broken link)
Canada Pension Plan Investment Board (CPPIB), which manages the country’s national pension fund, said Thursday assets under management rose 21 percent in the past fiscal year, returning to pre-crisis levels.
For the fiscal year ending March 31, Toronto-based CPPIB’s net assets rose C$22 billion ($20.6 billion) to C$127.6 billion, nearly a record high.
That is nearly three times the value in 2000, when CPPIB was 93 percent invested in bonds and before it adopted an active investing policy.
This Canadian link is their most recent report and reflects market gains from the up tick. The one you linked for Japan was August 2009 and was in anticipation of a down market. Is there a more CURRENT assessment? I don't know about you but I am not going back to my March 2009 portfolio results and saying poor me. I am looking at the current ones and purchased a beach home. You take your cloud and sit on it and I will take my sunny day and play in the sand. Just like Money magazine told me I should. Oh yeah the bank gave me a great mortgage at fantastic rates so I guess they had confidence in my pension plus, plus.
City bond rating downgraded :: CHICAGO SUN-TIMES :: City Hall (http://www.suntimes.com/news/cityhall/2570066,city-bond-rating-downgraded-080510.article - broken link)
Its a world wide problem and its coming to a pension fund near you.
Yes local pensions can be in a different place than state pensions and big city ones like Chicago have big issues. However unless your pension is one of the local ones with immediate current problems the impact on you as the individual is?
City bond rating downgraded :: CHICAGO SUN-TIMES :: City Hall (http://www.suntimes.com/news/cityhall/2570066,city-bond-rating-downgraded-080510.article - broken link)
Its a world wide problem and its coming to a pension fund near you.
Wait we do have an update for readers and lurkers on the UPDATED state of the Japan pension fund. So how have they done of late? Japan public fund: rate of return surges in 2009/10 | Reuters
June 30 (Reuters) - Japan's public pension fund said on Wednesday the rate of return on its investments surged to plus 7.91 percent in the 2009/10 financial year, following a record loss of minus 7.57 percent the year before.
Sharp gains in domestic and international shares lifted the Government Pension Investment Fund's (GPIF) performance, erasing a large portion of the losses made in 2008/09 when the fund was hit by the market turmoil following the failure of Lehman Brothers.
GPIF, the world's largest pension fund, said it posted a profit of 9.185 trillion yen ($104 billion) in 2009/10 after losing 9.35 trillion yen the previous year.
GPIF's total assets, which are greater than India's gross domestic product, rose to 122.84 trillion yen ($1.39 trillion) at the end of March, compared with 117.63 trillion yen the year before.
Keep googling for clouds and let others google for sunshine!
Yes local pensions can be in a different place than state pensions and big city ones like Chicago have big issues. However unless your pension is one of the local ones with immediate current problems the impact on you as the individual is?
so if one person is okay, another isn't, oh well, it doesn't affect me?
so if one person is okay, another isn't, oh well, it doesn't affect me?
It doesn't impact my pension as long as it is secure. Are you talking social concerns or personal finance? As I indicated in my links. Most state pension plans have gotten a healthy dose of financial recovery which benefits all who belong. Sure if a Tornado is predicted for Texas I feel concerned for them but I don't go in MY closet.
If you note I am sure to say STATE pensions as I know local pensions are all over the place.
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