Welcome To The Third World, Part 23: Honest Pension Returns Equal Mass-Bankruptcy

Last year the California Public Employees’ Retirement System, otherwise known as Calpers, cut the expected return on the funds it invests for plan beneficiaries from 7.5% to 7%. Seems like a modest change that should have a correspondingly limited impact on all concerned, right? Alas, that’s not how things work in the realm of compound […]

The post Welcome To The Third World, Part 23: Honest Pension Returns Equal Mass-Bankruptcy appeared first on DollarCollapse.com.

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