Why is Illinois like Puerto Rico? Both have made promises they can’t, and therefore won’t, ultimately keep.
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The ‘Illinois Is Not Puerto Rico’ Fallacy
Tag Archives: Pension Promises
Can Consolidation Fix Pension Plans?
Combining small underfunded pension plans into larger ones may shave costs a bit but won’t solve their problems.
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The Inevitable Future Arrives
For the first time, retirees in a private-sector pension plan are seeing their benefits cut for lack of funds.
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Illinois Goes Back To The Drawing Board
On public pension reform, Illinois’ high court’s policy is “just say no.” They are going to need a Plan B.
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Nothing Sacred In Bankruptcy
Only a fiscal miracle can save some underfunded public pensions. Bankruptcy judges are not in the miracle business.
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Detroit’s Wishing Well Runs Dry
Detroit is bankrupt, and all the wishful thinking in the world will not allow the city to keep impossible promises to its unions.
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California Enters The Era Of Broken Promises
Trend-setting California is among the first to enter the Era of Broken Promises.
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The Inevitable Breaking Of Impossible Promises
Public pensions are based on promises impossible to keep at the costs reported to taxpayers. Many such promises will be broken.
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Ponies For Everyone
Is it wrong to promise a child a pony to get her to calm down before surgery? An anesthesiologist posed …
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Will Negative Rates Finally Kill Pensions?
Traditional pensions have been vanishing for decades; the prospect of negative interest rates could be the final blow.
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