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 so it's...

I'll be 96.

And like I tell everybody, I want to put on my cremains, urns.

He lived long enough to get a coma.

That's what I want to put on it.

And if it happens, it happens.

Well, actually, in the turn of the century, which is a weird thing to say, but in fiscal year 2000, my plan was 132% funded.

All of them were funded over 100%.

In our case, the governors and legislators in those ensuing years, for at least 10, 12 years,

The boards did not have accurate information to pass on to the governor and the legislators.

And then we got the information that were passed on.

They didn't fund it correctly.

They didn't fund it properly.

At the same time, the retirees were getting COLAs based on the consumer price index, which ran between 2% and 3.5%.

And so you're just draining more money out

than what you're putting in and what your investments allow to grow and things like that.

And so it was just a fast, it was just a fast drain on assets.

So between fiscal year 2000 and fiscal year 18, 19, we lost 90 plus percent, 95, 100% of our money.

And fortunately in the mid 20 teens,

people finally thought, you know, this is going to be, we got down in 20, I think it's 2019, we got down, like I said, to 12.9.

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