McCaleb: Public pensions in some ways mirror Madoff’s Ponzi scheme

By   /  May 25, 2017  /  Colorado, Commentary, District of Columbia, Florida, Illinois, Michigan, Minnesota, Mississippi, New Jersey, Ohio, Opinion, Pennsylvania, Pensions, Wisconsin  /  No Comments

“In a world full of lies, the most dangerous ones are those we tell ourselves.”  ― Diana B. Henriques HBO debuted its original movie on Ponzi-schemer Bernie Madoff over the weekend. Based on Henriques’ book “The Wizard of Lies,” the film (and book) tells the chilling tale of Madoff’s fraudulent investment scheme in which more than […]

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Epstein: Reality sets in for wealthiest state in country

By   /  May 24, 2017  /  Colorado, Commentary, Connecticut, Florida, Illinois, Indiana, Michigan, Pennsylvania, Pensions  /  No Comments

A recent story in the Wall Street Journal foretells a grim financial future for Connecticut, the wealthiest state in the union by per capita income. Its great wealth, however, does not translate into financial stability. For this coming year, the state expects a $400 million shortfall in tax collections that will only compound its looming […]

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Houston pension bill moves ahead, despite flaws

By   /  March 21, 2017  /  News, Pensions, Texas  /  No Comments

Photo by Traci Patterson/Creative Commons

Houston Mayor Sylvester Turner went to Austin Monday to convince lawmakers that he has hit upon a solution to Houston’s $8.1 billion pension problem. His answer is math — really complicated but ultimately pointless math.

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The federal debt is $20 trillion? Try $100 trillion

By   /  March 20, 2017  /  Accountability, Budget and Spending, Federal Government, Federal government, National, News, Pensions, Transparency  /  No Comments

Most federal debt is hidden off the books in the form of promised — and unfunded — future payments to Medicare and Social Security recipients.

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Auditor: Pittsburgh’s pension funds are nearing state of distress

By   /  March 15, 2017  /  News, Pennsylvania, Pensions  /  No Comments

Although Pittsburgh paid more into its pension plans than was required, the funds set up to pay retirement benefits still struggle to be financially solvent.

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Director: Mississippi pension system is ‘OK’ despite uncertain future

By   /  March 2, 2017  /  Budget and Spending, Mississippi, News, Pensions, State Budgets, State Government  /  No Comments

Photo illustration by Steve Wilson

The executive director of Mississippi’s pension system said the fund’s status is OK despite a few fiscal “whammies.”

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