From Bloomberg
''The grave concern with Maryland is it assumes a very rosy and very optimistic return rate of 7.75 percent,” said Christopher Summers, president of the Maryland Public Policy Institute, which promotes policies based on free enterprise and limited government. “You have the 11th or 12th year in a row where the actual liabilities of the pension system are larger than its assets.”
Estimates of public-pension funding deficits vary from $757 billion to $4.6 trillion, depending on assumptions. To help close the gap, 29 states made changes to their pensions in the calendar year 2011, such as increasing employee contributions, raising the retirement age and revising automatic cost-of-living adjustments, according to the National Conference of State Legislatures.''
read more
No comments:
Post a Comment