On Fri, 8 Jan 2016 20:16:49 -0800, Califbill billnews wrote:

Unfortunately, not that many pensions in the private sector are
properly/fully funded. I served on my local union's pension fund board
for two terms, and our regs then and now required *no*
unfunded/underfunded liabilities, which is the way a pension should be run.

One thing to keep in mind...those right-wing politicians who claim the
government is "after your guns" are the very same politicians who
actually are coming after your Social Security.


Even badly funded private pensions, and even a few underfunded union
pension funds are a hell of a lot more solvent than government pension
funds. Is why Stockton, California declared bankruptcy. As well as
several other major cities wanting to do the same thing. And Social
Security is now considered a retirement plan. When did we fund it enough
to support such? Both parties and independents are going to have
to,address SS in a very short time.

SS is not really funded at all beyond what the workers are putting in
now and that is inadequate to pay the benefits,
It is a classic pyramid scam that has reached the point where there
are not enough new members to pay the old members.