Saturday, August 06, 2016

ACTUARIAL ESTABLISHMENT tries to suppress explosive paper on public pensions.
[These] are powerful interests that don’t want public pensions to be governed by the same kinds of accounting principles used in the private sector because… well, because if they were, public pensions would go from seriously underfunded to catastrophically underfunded.
Left unmentioned is the fact that public pension funds are serious Democrat donors....

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