The retirement crisis!
It also notes that Social Security is in the Iron Lung, and the power is failing! Yikes!
Social Security is still just a bankrupt as it was last year, politicians still ignore the facts
As far as it goes, this is a reasonably good start on the problem. Indeed private pensions are failing.
Central States Pension Fund is essentially broke, and will need to cut payments to retirees . . .
It's time for a pension update from the pension apocalypse center here in Maddogslair at Stately Maddog Manor . . .
So, this is nothing new, but is continuing to worsen at an impressive rate! Oh goodie!
But that is not the end of the story, and is barely the beginning. The bigger problem is state, and local public pensions.
Public pensions are catastrophically underfunded
And public pension returns are dismal.
Progressivisms Death Knell: Fissures opening to the left, and right in the deep blue progressive movement
How dismal? This dismal!
CalPERS guarantees it can high jump 7.5'
But CalPERS failed, and only jumped 0.61, and has no ability to change the basic fact that its return on investment over the next decade is likely to be dismal, sub 3%.
Don't worry about the constant drumbeat of stories about the federal government repossessing your IRA, or 401(k), they want to but have not yet, and everyone knows the federal government always does the right thing. PANIC!