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Thread: MAJOR Cracks are Showing in the Illinois State Pension Fund

  1. #1

    MAJOR Cracks are Showing in the Illinois State Pension Fund

    It's game over for these rascals if they are forced to raise taxes beyond the normal expectations.

    http://www.zerohedge.com/news/2016-0...on-fund-admits

    What Rauner's senior advisor is essentially saying, is that if the TRS does what the Fed and other central banks are forcing it to do, our political careers may be over, and that could be just the beginning.

    And here is the punchline: one of Rauner's top Republican legislative allies, Senate Minority Leader Christine Radogno, urged the TRS board to delay a vote Friday to give the public time to weigh in on its possible actions. "This issue is important enough at the very least to put the TRS board on notice we don’t want them taking any action that could cost taxpayers $200 to $300 million without appropriate scrutiny,” she said. The action in question, Radogano is demanding the TRS not take, is to lower its return expectations from the ludicrous 7.5% to something realistic; instead she is suggesting the fund pretend all is well, and avoid the day of reckoning for at least a few more years, ideally until she has quit as Senate Minority Leader, at which point the TRS can by all means go ahead and admit just how terrible its underfunding truly is.
    “Force the normies into taking sides. At the moment they are just like "meh, I am minding my own business" retreating culturally into their private bubbles and "safe-spaces" since they don't understand what is going on. When the actual "us vs them" starts, they will be forced to fight or they'll die.” - Anonymous Poster



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  3. #2
    Oh it is worse than major cracks .

  4. #3
    Quote Originally Posted by oyarde View Post
    Oh it is worse than major cracks .
    The prospect of World War must be appealing to these people with each passing day. You can literally kill off your benefit recipients.
    “Force the normies into taking sides. At the moment they are just like "meh, I am minding my own business" retreating culturally into their private bubbles and "safe-spaces" since they don't understand what is going on. When the actual "us vs them" starts, they will be forced to fight or they'll die.” - Anonymous Poster

  5. #4
    We have no plans to accept any Illini refugees , they will need to keep moving .

  6. #5
    "We will build a wall and make them pay for it."

  7. #6
    "Let it not be said that we did nothing." - Dr. Ron Paul. "Stand up for what you believe in, even if you are standing alone." - Sophie Magdalena Scholl
    "War is the health of the State." - Randolph Bourne "Freedom is the answer. ... Now, what's the question?" - Ernie Hancock.



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