Tuesday, July 31, 2018
More public pension recipients are likely to get stiffed
Public employee pension funds seem to keep drifting into deeper trouble, as Sarah Krouse writes in this article for the Wall Street Journal July 31. Central Falls RI and San Jose CA get special attention. The "Pension Hole" is bigger than Japan's economy.
Put bluntly, it looks like more former public employees will get stiffed.
It doesn’t seem as if PBGC applies.
Charles Murray’s controversial proposal for Universal Basic Income back in 2016 would have eliminated Social Security and all other government handouts. Not sure about public pensions.