In this morning’s mailbag…
“In the state of Florida all County pensions are rolled into the state pension system. Of all the state and local systems FRS (Florida Retirement System) would be among the last to go, but a good Dow dump would make it very vulnerable. The same dump would be the coup de grace on most municipal public safety retirement plans.
“Everyone should read the article in detail. Politicians who promise future benefits expensed tomorrow and reap the benefits of political support today better have access to the Federal Reserve printing presses.
“Municipal bankruptcies, as well as some states, over pensions is cruising to be the norm versus the anomoly.
www.pensiontsunami.com for California and other pensions crashing.
