DeKalb once again is in the forefront. But this time it's titled "DeKalb Offers a Pretty Typical Case of How Public Pensions Got Into Trouble."
And you wonder way the county still refuses to publish the minutes or our pension hearings?
Click here to read the depressing news.
Monday, October 28, 2013
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8 comments:
"Creative Math" Great... Just great...... No pension, no need to stick around....
A realistic approach (not superficial bandaids) needs to be implemented for the overall fiscal health of our pension and its liabilities. Either increase everyone's contributions to make up the shortfall (soon to be required by law) or lock in those vested and turn to a 402b type retirement like most have currently where employees invest what they wish for partial matching by employer. It's disappointing that it has come to this but it is what it is and we can't keep pretending it's maintainable. Freeze what you have or risk losing it all but change is inevitable.
Agreed, many have seen this coming for years and either froze their pension to afford Federal protection, took early retirement when offered, or cashed it out for reinvestment.
If you want to know the future of Dekalb you need only look to the history of any Democrat run government i.e. Detroit, Chicago, etc. If you remain in the midst of the corrupt and incompetent expect more of the same.
I guess Cedric told y'all... LMAO
A county full of perps, run by perps, with a few innocent bystanders in between....This place is a joke, the laughing stock of the policing world, counting the days until I bolt for greener pastures.
http://www.wsbtv.com/news/ap/labor/detroit-to-get-crucial-ruling-in-bankruptcy-case/nb9LQ/
Well ladies and gents the precedence has been set. As soon as this dump declares bankruptcy from mismanagement and corruption you'll receive pennies on the dollar (if your lucky) for your pension. Though I suppose if you're still working in Dekalb you couldn't care less about your future anyway.
Between all the recent retiree deaths, those leaving and reinvesting in other municipalities, there are few vested, drawing a pension, so it should be EXTREMELY well funded.
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