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Jim Palermo
4 years ago

The article exhibits a serious misunderstanding of actuarial concepts in paragraph 10. The tax levy hasn’t increased because a minuscule number of people live past age 110 to 120, contributions are higher, in part because large numbers of people are living into their 80s where just a generation ago they were dying in their 70s. Elected officials, pension trustees and municipal staffers need to educate themselves on what drives pension costs and challenge actuaries who try to offer this false explanation for higher required contributions.