An annual interest rate of 8.4 percent should impress investors in any economy, let alone this one. Traditional savings accounts currently yield less than 1 percent, and IRAs and 401(k)s across the country have yet to recover from a whopping …
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Now that ballot initiatives targeting public employees’ pensions have passed in San Diego and San Jose, state legislators and politicians in other cities may be contemplating similar efforts. But new data released this month should give them pause.
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When it comes to retirement benefits, public employee unions have one thing right: We should not eliminate traditional pension plans.
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The message from voters about public pension plans is clear: They’re ready to cut the retirement benefits of police, firefighters, teachers and other state and municipal workers.
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Zakaria seems to have convinced himself that public pension obligations are going to turn state and local governments into future Greeces, but that is not what the numbers show.
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In the 90s, and in the years of the last decade before the housing crash, most economists and pension managers who made projections of stock market returns were making absurdly optimistic assumptions.
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