Comment: Another city official who is dangerously clueless about pensions. According to the Finance Director, “The percentage funded means that if the entire fire department retired today the city would only have 41.6 percent of the money it needs to pay pensions… The chances of the entire department retiring today are zero because not all of the members meet the requirements for retirement.” Wrong.

Plenty of public officials have no understanding of their pensions and mislead their taxpayers in similar ways.