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  • FIRST POST
    • kidmugsy
    • By kidmugsy 15th Mar 17, 3:52 PM
    • 8,972Posts
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    kidmugsy
    Makes BHS pension fund look good
    • #1
    • 15th Mar 17, 3:52 PM
    Makes BHS pension fund look good 15th Mar 17 at 3:52 PM
    "Illinois General Assembly Retirement System Only 13.52% Funded"

    The next sizeable market downturn is going to wreak carnage on State and municipal DB pension schemes in the US. I suppose that will amplify the downturn.

    I don't suppose an amplified downturn is going to do any favours to our own DB schemes.

    Does this post have a point? Yes: 13.52%. Dear heavens!
Page 1
    • MoneySavingUser
    • By MoneySavingUser 15th Mar 17, 7:46 PM
    • 1,570 Posts
    • 623 Thanks
    MoneySavingUser
    • #2
    • 15th Mar 17, 7:46 PM
    • #2
    • 15th Mar 17, 7:46 PM
    Not a big deal, they won't last to retirement once Trump takes their healthcare plans....
    • kidmugsy
    • By kidmugsy 15th Mar 17, 9:07 PM
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    kidmugsy
    • #3
    • 15th Mar 17, 9:07 PM
    • #3
    • 15th Mar 17, 9:07 PM
    Not a big deal, they won't last to retirement once Trump takes their healthcare plans....
    Originally posted by MoneySavingUser
    Do members of the Illinois General Assembly use Obamacare?
    • Elijah Bailey
    • By Elijah Bailey 16th Mar 17, 12:34 PM
    • 56 Posts
    • 41 Thanks
    Elijah Bailey
    • #4
    • 16th Mar 17, 12:34 PM
    • #4
    • 16th Mar 17, 12:34 PM
    TrumpDoesNotCare
    • woolly_wombat
    • By woolly_wombat 16th Mar 17, 1:23 PM
    • 416 Posts
    • 244 Thanks
    woolly_wombat
    • #5
    • 16th Mar 17, 1:23 PM
    • #5
    • 16th Mar 17, 1:23 PM
    "Illinois General Assembly Retirement System Only 13.52% Funded"
    Originally posted by kidmugsy
    It couldn't happen over here...could it?
    .
    • hugheskevi
    • By hugheskevi 16th Mar 17, 2:16 PM
    • 1,874 Posts
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    hugheskevi
    • #6
    • 16th Mar 17, 2:16 PM
    • #6
    • 16th Mar 17, 2:16 PM
    The next sizeable market downturn is going to wreak carnage on State and municipal DB pension schemes in the US.
    Taking the stated funding ratio at face value of 13.52%, the fund is pretty well insultated from market downturns - even if their assets slump by 50% their funding level would still be 6.76%, which I doubt is materially different to 13.52%.

    If they were 90% funded, a 50% slump in assets would be much more serious.

    It couldn't happen over here...could it?
    Only in the LGPS, all our other big pension schemes are unfunded, so even better protected from market downturns
    • atush
    • By atush 16th Mar 17, 2:41 PM
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    atush
    • #7
    • 16th Mar 17, 2:41 PM
    • #7
    • 16th Mar 17, 2:41 PM
    Do members of the Illinois General Assembly use Obamacare?
    Originally posted by kidmugsy

    I would imagine they have private govt funded health care like we had (my dad was Dept of commerce) GEICO (govt employees insurance corporation)
    • kidmugsy
    • By kidmugsy 16th Mar 17, 2:50 PM
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    kidmugsy
    • #8
    • 16th Mar 17, 2:50 PM
    • #8
    • 16th Mar 17, 2:50 PM
    I would imagine they have private govt funded health care like we had (my dad was Dept of commerce) GEICO (govt employees insurance corporation)
    Originally posted by atush
    I was amused when Congress passed Obamacare and carefully insulated itself from it. Apparently they must have read just enough of the bill to see which side their bread was buttered.
    • woolly_wombat
    • By woolly_wombat 17th Mar 17, 9:04 AM
    • 416 Posts
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    woolly_wombat
    • #9
    • 17th Mar 17, 9:04 AM
    • #9
    • 17th Mar 17, 9:04 AM
    Only in the LGPS, all our other big pension schemes are unfunded, so even better protected from market downturns
    Originally posted by hugheskevi
    Well you said it hugheskevi!

    WW (Equitable Life so-called with-profits pension, deferred LGPS member. )
    Last edited by woolly_wombat; 17-03-2017 at 9:13 AM. Reason: highlight
    • kidmugsy
    • By kidmugsy 17th Mar 17, 12:12 PM
    • 8,972 Posts
    • 5,825 Thanks
    kidmugsy
    Taking the stated funding ratio at face value of 13.52%, the fund is pretty well insultated from market downturns
    Originally posted by hugheskevi
    Since the General Assembly is the State Legislature it is insulated anyway; they'll doubtless just vote themselves lots of money. But they won't easily be able to vote lots of money for all the other insolvent pension schemes in the Illinois government without massive rises in state taxes. So taxpayers and businesses will flee, and it'll be the old downward spiral with, eventually, defaults on pension payments. Won't it?
    • kidmugsy
    • By kidmugsy 17th Mar 17, 12:13 PM
    • 8,972 Posts
    • 5,825 Thanks
    kidmugsy
    I would imagine they have private govt funded health care like we had (my dad was Dept of commerce) GEICO (govt employees insurance corporation)
    Originally posted by atush
    My sarcastic question was aimed at the foolishness of the knee-jerk anti-Trumpers. Maybe "knee-" is redundant.
    • atush
    • By atush 17th Mar 17, 2:02 PM
    • 15,698 Posts
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    atush
    Well I am anti trump, but my knees arent jerking. Not even twitching.
    • kidmugsy
    • By kidmugsy 17th Mar 17, 3:49 PM
    • 8,972 Posts
    • 5,825 Thanks
    kidmugsy
    Well I am anti trump, but my knees arent jerking. Not even twitching.
    Originally posted by atush
    You're not the one who dragged Trump into a thread about deficits in DB schemes.
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