A statewide concern: Illinois’ population decline outpaces neighboring states – Wirepoints on ABC20 Champaign
“We are not in good shape” Wirepoints’ Ted Dabrowski told ABC 20 Champaign during a segment on Illinois’ latest population losses. Illinois was one of just three states to shrink in the 2010-2020 period and has lost another 300,000 people since then. Ted says things need to change. “It’s too expensive to live here, there aren’t enough good jobs and nobody trusts the government anymore. There’s just other places to go where you can be more satisfied.”
My understanding is the pensions assume 7.5 percent to 8.5 per year, and that’s what they have usually done. Whats wrong wit that?
Sue, it’s just not a reasonable number any more. That’s not my opinion, its Warren Buffet’s, the entire private sector, the accounting standard board, the ratings agencies, etc. Try to find a place that will assure you a 7.5% return. You won’t come close, anywhere.
Please print out a copy of this and nail it into the foreheads of the morons at all the papers who lecture us about pension reform but never tell us things like this.
I linked through to the report. That’s the kind of bullshit paper I learned to write in school. If anybody really understands how to fix something with so much to fudge and so much guesswork like inflation rates, its sure not the politicians who are in charge of fixing this. These plans will never be fixed and have to be replaced.