Larry Totten

speaker

273 appearances 1 recordings 1 series first heard Jan 2026 last heard 20 Jan

Larry Totten’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Jan 2026 with 1.

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And we're advocating that because in terms of the legislators who have to fund it, it doesn't affect the unfunded liability.

They have to pony up.

In KER's case, it's $100 million, which I know it's a lot of money, but it's something that's one and done.

We just, we, it has been in talking to lunch.

It's been an easier sell for them to, to accept and understand because you talked about coal in their eyes glaze over.

No, we can't do that.

Yeah.

I said, yes, you can.

If you pre-fund it, that's the whole thing.

You've got to pre-fund anything.

And so, um,

The unfunded liability is the difference between what the pension system owes present and future retirees versus how many assets you have in it.

Right now, my plan, which is KER, it's not hazardous plan, is 28.9% funded.

which is terrible, but five years ago, it was 12.9% funded.

So in five years, it's grown, it's jumped four percentage points in the last year, and so it's on a trajectory

200% funded.

All the plans are amortized and expect to be fully funded by 2049, which is a long time.

But, you know, you don't pay off your house in a long time.

It's a 30-year amortization.

So that's what they set up in 2019.

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