David Cay Johnston: Is There a Pension Crisis?

[@uncleelmer]

David Cay Johnston says it best and it is important his voice weighs in on the pension battle where workers are being stripped of their pensions because of factors that are outside their control.

[@rockymontero1162]

I am so appreciative of how he explains this! Thank you Mr. Johnston!

[@ValleyoftheRogue]

Excellent. Johnston explains it well.

[@Dr.A.Rosenberg]

This was posted in March of 2015 and less than 14K viewers ? Really ?

[@glockonr]

3 of those views were me. He is full of "IT," no, full of himself.

[@whipsaw]

Outstanding. Thanks for posting!

[@ronniekirby1688]

He needs to tell this to the Central States Pension Fund

[@rupiwilly]

+Ronnie Kirby I would sure like to hear his opinion of the problem and what they're doing to us retirees. My letter in Oct. said they will cut me from 2500 to 1017 a month.

[@ronniekirby1688]

Willy Rupino sorry to hear that willy. I'm over 75 so not getting cut as bad,but bad enough. I go from 1700 to 1246 maybe something will happen to stop them.

[@rupiwilly]

+Ronnie Kirby Cutting anything sucks especially knowing the trustees don't get cut & Nyhan salary is $660,000 They might go to prison soon but that won't bring back our pension money.

[@geoffdearth8575]

Probably the most criminally run enterprise ever.

[@TedApelt]

People need to know that pensions are EARNED, not given, and they belong to the EMPLOYEES, not the company. Any company use of those funds is theft - just as if it was in escrow. Even if the company went bankrupt, the pensions should be totally safe in their escrow accounts.

[@cyworld2707]

Is there a Pension Crisis? The thumbnail expression says it all.

[@likeshareandsubscribe2866]

Guaranteeing a return that is thrown on the taxpayers back is madness. Did you address this? Nope.

[@RojaJaneman]

He did address it. He said, the pension is meant to b a part of ur compensation and that u r deferring ur pay and asking the experts to invest it for u. Which, even with downturns in the market, will appreciate overtime. It wouldn’t b a taxpayer burden unless the politicians steal it. Which can only happen if we all fail as citizens and elect people that would even dare touch the pot. Or if world economy collapses. Which would mean the end of days anyways. Pension would b a least of our worries. Actually, he explained it in great detail. We’re u listening??

[@donovanthompson9825]

Deposit the 6.5trilons of dollars back in to social security

[@glockonr]

Kentucky's defined benefit public pension system is managed by some of the best financial managers and agencies taxpayer money can buy. The current unfunded liability is estimated at 60 billion dollars. Maybe we should get some plumber to manage the system. Jonston is the smartest kid in the room. If you don't believe me, just ask him. s

[@glockonr]

I guess Johnston never heard of benefits enhancements and pension spiking. This is mere cherry picking to support his position.

[@clarestucki5151]

He repeatdly says things like "for . . .I", as in "For my wife and I"

[@chestermicek]

Clare Stucki, he's a numbers' guy & he has a Pulitzer. So what if he doesn't say, "For my wife & me."

[@RojaJaneman]

@@chestermicek Grammatically, u can’t say me like that. He’s saying it correctly.

[@sifiska]

"Wages that could of been taken today, but are deferred". So a teacher's or a police officer's in California real salary is more than 400k a year. Is that what you are saying ? Public pensions are nothing more than a political buyout of votes. PUBLIC SERVANTS DON'T PAY TAXES. That is a misnomer. Only the private sector pays taxes. The public pension system is the MAIN reason California has turned into a sh1th)le. How about you come down to reality. How much would these teachers and police officers be earning in the private sector. A bit over minimum wage.

[@vicpso1]

Everything he says, has a certain ring to it. I have a feeling he is a shill for something. 401k's arose (least efficient) to cover the failure of social security (most efficient)!!!