The Ontario Teachers pension fund is huge. It is an investment capital collosus that owns big chunks of some really big corporations.
http://www.otpp.com/investments/performance/major-investments
Illinois Insolvent Due to Pensions
- Thread starter Danbones
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The Ontario Teachers pension fund is huge. It is an investment capital collosus that owns big chunks of some really big corporations.
http://www.otpp.com/investments/performance/major-investments
yeah, and the bastids are very demanding, greedy, and they don't tip.
..and if your your kids don't learn to read at home they won't ever learn to do it.
Children Teach Themselves to Read
https://www.psychologytoday.com/blog/freedom-learn/201002/children-teach-themselves-read
..and if your your kids don't learn to read at home they won't ever learn to do it.
Children Teach Themselves to Read
https://www.psychologytoday.com/blog/freedom-learn/201002/children-teach-themselves-read
That's why the rock&Tunnel workers pension plan turned out so good. NOT.
They also don't mind taking away other union workers jobs in pursuit of profits.
In Illinois, the subject of the thread, they are.
Obligations 35 Billion...Income 32 Billion
https://www.wbez.org/shows/curious-...o-anyway/3197f0ba-ce77-44c6-9180-04088ccc8f76
The Chicago Public School system is in shambles, worsened by a combination of recent events. First is that CPS has received several credit downgrades, attaining that all-too-familiar Chicago characteristic: 'junk bond' status.
Second is that CPS is dealing with a $480 million budget shortfall that it wants the also-broke Illinois state government to cover.
Third is that Chicago's school system, already facing academic failure, may cut staff and close facilities. And compounding all this is that CPS must deal with a Chicago Teachers Union (CTU) who, oblivious to reality, keeps demanding more for itself.
This latter conflict is part of an ongoing battle between Chicago's public school management and labor to agree on pay. Currently, the median annual salary for Chicago teachers is $76,000, or $14,000 more than average city residents with a graduate or professional degree.
There are also generous retirement benefits; for example, teachers who retired after 2011 receive $77,000 annual pensions.
Meanwhile, they work in a school system with low graduation rates, short school days, declining enrollment, and vast structural debt, including a pension system that's only 51.9% funded.
https://www.forbes.com/sites/scottb...achers-union-demands-pay-raises/#570fa627507e
To quote myself from an earlier post:
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It's gonna be a lonely planet.
I know, how about launching all of the marketing managers and telephone sanitisers into space, on an ark, to pave the way for the rest of humanity's migration.
This story is very difficult to believe. Their financial debacle certainly just didn't happen in one day. I would guess it happened over several decades if not an entire generation. I would like to know how much involvement bureaucrats had to do with it. I just find the whole thing next to impossible to believe.
Might be the entire population!
Looks like the unions own a fair number of politicians in order to make this mess in the first place.
Actually, we are. The gubmint matched my pension contributions when I was a teacher and the gubmint matches the contributions of all teachers today who are part of the OTPP.
Every employer, public or private does that. The difference is that their pension paynent shortfalls aren't being made up by tax money.
Pensions is just an excuse. Most of the monetary problems stem from bad management and bad business practices. Illinois pays $24,000. for a Ford Focus. The rest of us go to a Ford dealer and buy one at a "No Haggle" price of $22,869. and that is a fact.
It's probably got a lot to do with their weak dollar!
That's pretty much standard everywhere methinks. What the bastards don't tell you is they are mostly matching it with the interest they gleaned off your contributions for 35 years! Anyway they aren't fooling everybody.
