Moody's: US munis face $2 trillion in unfunded pension [NotSoBreaking] - MarketTicker Forums


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User Info	Moody's: US munis face $2 trillion in unfunded pension in forum [NotSoBreaking]
Passivesf Posts: 5495 Incept: 2008-02-01	(Reuters) - U.S. states and localities have run up more than $2 trillion of unfunded pension liabilities, Moody's Investors Service said on Monday, citing data on plans offered by 8,500 local governments and over 14,000 individual entities. The Wall Street credit agency said that according to its estimate, the total liabilities for fiscal 2010 were more than three times the amount reported by local governments. http://www.reuters.com/article/2012/07/0.... ---------- "Banking institutions are more dangerous to our liberties than standing armies. The issuing power of currency should be taken from central banks and restored to the people, to whom it properly belongs" Last modified: 2012-07-03 11:59:06 by passivesf 2012-07-03 11:56:47 Permalink
Grace Posts: 519 Incept: 2008-10-15 upstate new york	BOY ARE THEY DREAMING....can't wait until they wake up ! LOL "Currently, many public pension plans use the same rate - often 7.5 percent to 8.25 percent - for the assumed investment rate of return and the discount rate used to calculate liabilities.......a plan with a $10 billion liability based on an 8 percent discount rate would see that amount leap to $13.56 billion if a 5.5 percent rate were used." 2012-07-03 14:25:41 Permalink
Antone Posts: 7663 Incept: 2008-02-03 Seditionia, USSA	Sounds like the Fed has $2 trillion in "assets" they can buy. ---------- As if anything has changed: Wir sind gefickt. 2012-07-03 14:27:45 From PDA Permalink