Ouch... Pension down 6.4%

[Unregistered]

No, the sky isn't falling... yet! But they did announce at today's pension ***** meeting that the fund is currently down 6.4% for the year, which ends at the end of next month. Get ready for a HUGE contribution rate increase the following year if we don't erase the losses AND gain the 10% the fund needs to stay solvent.

[Unregistered]

If they keep giving out 13th checks to retirees, the funds will not stay solvent. Instead the money needs to be deposited into a rainy day account.

[Unregistered]

If they keep giving out 13th checks to retirees, the funds will not stay solvent. Instead the money needs to be deposited into a rainy day account.

Your post shows how dumb you are!
13th checks don't take saved money out of the fund , the fund has to earn OVER 10% to pay a 13th check. No earnings no check!
What kills our fund AND stops 13th checks is WASTING money on STUPID acts such as violating the Florida Sunshine Law and causing a Law Suit, that had to be settled to keep costs down and yet it still cost our fund OVER $300,00.00 ! If it had gone on and the Judge ruled as the 2nd District Court of Appeals said it should , it could have cost maybe in the millions.
Kermit the Bald and the Dictator helped create this boondoggle. BUT WE keep electing them, so we have to look in the mirror to see what is wrong.
No one has the balls to run against them.
These two keep the Bobbys Patsys ( City Trustees ) and the Hose Draggers ( Fire Trustees ) snowed on what they are doing.

[Unregistered]

There is a depression era collapse coming our way. Don't count on your pension being worth the paper and hard-drives it's written on. When the market crashes and it's going to before we know it and I don't mean like 2008 -2009, I mean depression era, soup line level of catastrophic loss, then the pension we thought we had is no longer viable and not able to pay the bills and the dollar is worth squat. When a loaf of bread costs us $50 or $100, then what?