Larry Totten

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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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We had barely $2 billion in assets.

Yeah.

And at that time, they were pumping out a billion dollars and a half, billion and a half dollars worth of pension payments.

And as I said, we were one recession course, or one recession short of going unfunded, totally zero, blanking out.

No, it was just they had gotten used to it, and it just kept going.

And like I said, it affected all five pension plans.

The difference between ours and on the CER side, which is the county and cities, is employers had to pay what was recommended.

That still wasn't enough.

But they had to pay what was recommended.

And so they didn't take, okay, here's your number you're supposed to, but we're going to cut it to half and only pay half of it.

They paid what they were supposed to.

So it got down to below 50%, but it didn't hit 12.9%.

Well, when I started, retirement was the last thing on my mind.

But I'm glad it was there.

I mean, if I could have taken that money back in 1975 and spent on something else, I easily would have.

And then I would have been a lot different shape today.

Personally, I think everyone ought to have a pension.

Companies used to do that.

And it was just money that allowed them to just dump their pension benefits for their employees.

And I think that was part of the decline of unions, because unions would fight for pensions.

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