Tag Archives: pensions

CalPERS Warns Against Investing in California

CalPERS, the California Public Employee’s Retirement System, has big bucks from California taxpayers to invest in support of the promises that California politicians have made to public employee unions. Asset International’s Chief Investment Officer reports that CalPERS has only 8.9% … Continue reading

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When a cop gives you a traffic ticket, is that money in his pocket? In Georgia, yes.

The Augusta Chronicle reports that 5% of the money collected from traffic tickets go to a supplemental pension fund called Georgia Peace Officers’ Annuity and Benefit Fund.  That’s right folks; that is money in the officer’s pocket eventually.  The more … Continue reading

Posted in The Courts | Tagged , , | 2 Comments

Matthew Yglesias, Slate: You are too stupid to save, so give your money to the government

From back in the day, I recall a comedian, whose name I can not recall, do a bit in which he proposed a Stupid Tax.  Anytime that you caught somebody doing something stupid, then you could collect $5 from them … Continue reading

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NJ Gov. Christie Evades Government Spending in Union Giveaway

Bloomberg reports that New Jersey’s unfunded public employee pension liability increased by $5.5 in 2012, which is a 13% increase in the states total unfunded pension liability. As I have written before in the case of Obama’s $761.5 billion accounting … Continue reading

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IRS’ 401k Early Withdrawal Penalties vs. Americans in Reality

I have been seeing a number of media reports about a HelloWallet analysis related to individuals withdrawing funds early from 401k and defined contribution pension plans.  The theme in this reporting is that these programs have failed as vehicles for … Continue reading

Posted in Congress | Tagged , , , , , | 3 Comments

Obama Using Accounting Cheat to Hide $761.5 Billion in Deficit Spending

Federal Times reports an OPM announcement that the unfunded liability for federal employee pensions is $761.5 billion– the size of a TARP bailout. Today private companies, like Ford, have been pouring their profits into pension liabilities instead of new jobs, … Continue reading

Posted in President | Tagged , , , , , , , , | 5 Comments