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Brio

The Suddenly Poor Life: Millions Will Lose Their Pensions

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 Brio    1,038

(snip)

Tens of millions of Americans are not going to get the benefits they are planning on! This is an underappreciated trend that will have a profound effect on America’s economy.

Consider this: In Chicago, a recent report found that the city’s unfunded pension liabilities totaled 10 times the entire city’s revenues. According to analysts, this means that the city will soon be paying 50 percent of its revenue just to cover pension costs.

New York City now spends more money paying pensions to retired police officers than it does to active ones.

https://www.thetrumpet.com/article/13631.18.0.0/economy/the-suddenly-poor-life-millions-will-lose-their-pensions

 

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