Pension Crises Growing

Pension across the country are coming under pressure with their investment portfolios still counting on rates of return that seem less than likely to materialize over the next decade. Public pension, including state and local governments are especially stressed. With interest rates at record lows where are these pension funds going to gett a return without chasing ris, moving forward?

"California, which has the largest U.S. public-pension fund, faces liabilities that may exceed its annual state-tax revenue fivefold within two years unless lawmakers rein in benefits, according to a study.  To keep their promises to retirees, the California Public Employees Retirement System, the biggest plan, the California State Teachers Retirement System, the second-largest, and the University of California Retirement System may have combined liabilities of more than 5.5 times the state’s annual tax revenue by fiscal 2012, according to the study released today by the Milken Institute. Levies are forecast to reach about $89 billion in the year that began July 1."

There is more here for the inquiring mind.  If you have has income reduces and it has impacted your credit profile give the folks at Credit Repair Texas a call for a free evaluation.