CNBC: Pension Timebomb On The Horizon

Corporate pension timebomb.

Gary Kaminsky on the $400 billion pension deficit sitting on the books of public companies.

Comments

[S. Gompers]

The important thing to remember is executive retirements, golden parachutes, and bonuses for the top are safe and sound while the rest of us choke on the fraudulently rated MBS dumped in our funds as well as a market that is unlike anything ever seen before thanks to the blatant fraud in the system.

[Sell Short]

sell the market short

[Josie]

Posted a bizweek article about this weeks ago. Nice to know CNBSucks is on it...now...

Low interest rates have been the norm for years now. Where have the so-called experts been to discuss this "problem?" Most pensions, particularly public pensions, assume 7-8% returns to fund their ongoing liabilities. Hedgies and mutuals would love 7-8% these days. Not going to happen, for the most part. Not even close...

Think ponzi. When the rates go down, we see the pensions collapse.

Kaboom!

[DailyBail]

Josie

And we have municipal and state budgets all over the country (that will soon blow up) built on those assumed rates of return. We have a student loan timebomb and pension timebomb, on top of $17 trillion in current federal debt, along with a pesky little hundred trillion unfunded liability issue.

All systems go. Nothing to worry about.

[LadyLiberty]

Corporate Pensions on Pace to Hit Year-end Deficit Record

http://blogs.wsj.com/cfo/2012/12/11/corporate-pensions-on-pace-to-hit-year-end-deficit-record/

The Great American Retirement Scam: Why The Wealthiest CEO's In America Want To Take Away Your Social Security

http://www.forbes.com/sites/rickungar/2012/11/28/the-great-american-retirement-scam-why-the-wealthiest-ceos-in-america-want-to-take-away-your-social-security/