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kleinbl00  ·  1667 days ago  ·  link  ·    ·  parent  ·  post: Pension Funds Are Going To Be Destroyed In The Next Recession

Fuck dude, I got a pension. Rub me for luck.

Thing is, the PBGC has $423m a year to cover the 19 trillion in outstanding pensions. CalPERS alone is a $300b pension fund that, to cover its obligations, needs to be $440b.

So. State of California government employees only. Only discussion here. Current gap is 330 times what the PBGC can cover. And the gap is getting bigger. So the odds that anyone under 50 ever sees their pension.... not good.