Heather Gillers
speaker
548 appearances
11 recordings
1 series
first heard Nov 2018
last heard Oct 2021
Heather Gillers’s voice in public audio — every appearance, attributed to the second.
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Appearances
But this year, yes, pensions had a median expectation of
7.25%.
They made about 6.7, 6.8%.
And it's a reminder that most pension plans, many pension plans around the U.S.
have much less in assets than they need to meet their future promises to retired police, firefighters, teachers, workers.
That's been a recurring theme, and there are a couple of reasons.
One is the big chunk that was taken out of pensions assets in 2009.
Their holdings fell almost 20 percent.
So there is a lot of catching up to do from that.
But there are also more systemic reasons.
Throughout the 80s and 90s, returns were very good, and those led governments to predict returns.
continuing rosy returns in the future and to put away only enough money as would be needed to fund pensions if those optimistic returns arrived.
And they didn't arrive.
And that's the cause of a lot of shortfalls in pension plans.
Because that projection determines how much governments have to pay in every year to fund their pension plans.
And the less money a plan can make in the market, the more money has to come from the government itself.
And that money may need to be diverted from other public services like police or firefighters or the sewers, what have you.
In order to pay pensions, it must make up that difference.
Yes.
And pensions have very strong legal protections in most states.
Showing 381–400 of 548 · page 20 of 28
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