pension obligation bonds Category
Two Awful Tastes That Go Great Together: Pension Obligation Bonds and 80% Funding Myth
by meep
I thank my readers who emailed me these stories – (note: email me at marypat.campbell@gmail.com) – my normal news searches would have missed the crucial items.
I THINK IT’S A CONSPIRACY!!!Okay, maybe not, but there is some awfully suspicious...
Illinois Idiocy: Scenario-Testing the Pension Obligation Bond Idea
by meep
I used historical data for projection purposes.
This week, I’m using an economic scenario generator hosted by the Society of Actuaries to run a bunch of random scenarios.
And sorry, I’m...
Illinois Idiocy: Projecting Potential Cash Flows for Proposed Pension Obligation Bonds
by meep
Here we go.
I have listened to the audio of the POB presentation from last week.
I have transferred over the numbers from some of the slides into a spreadsheet, and I’m trying out multiple scenarios. For this post, I’m doing extremely simplistic scenarios...
Illinois Idiocy: Digesting the Presentation of the Mega Pension Obligation Bond Idea
by meep
I got a hold of a copy of the presentation given January 30, to present the idea of a $100+ billion in pension obligation bonds to get Illinois state pensions up to the dizzying height of 90% funded. And something something arbitrage.
The file is kind of large, as it...
Illinois Idiocy: Let's Issue Pension Obligation Bonds When Our Ratings Are Low!
by meep
Sounds like a plan.
Before I get to the obvious downsides of such a thing, let us look at the straight news stories on this idiotic idea.
LET’S DO THE LARGEST PENSION OBLIGATION BOND EVER
Illinois ponders pension-fund moonshot: a $107B bond sale
(Bloomberg) — Springfield...
Moving the Pension Funding Goalposts: 60 Percent is the New 80 Percent
by meep
This is not my quarterly 80% fundedness update. This is driven by an incredibly stupid thing said by a politician (of whom I have little expectation) and by someone who really should know better.
And it was in multiple news stories.
KANSAS, I DON’T THINK WE’RE SAFE
Stupid Pension Trick: Let's Use Lottery Money!
by meep
This stupid trick comes courtesy New Jersey, which has been chock full of stupid pension tricks for years.
They’ve issued billions in pension obligation bonds.
They’ve gone chasing returns alternative assets to try to make up for undercontributions.
So now… what?
LET’S MONETIZE THE LOTTERY!
Stupid Pension Trick: Extra Contributions from a Special Fund
by meep
Today’s trick is courtesy California, where Governor Jerry Brown had the bright idea of throwing extra money into the California pension hole.
THE PLAN
Political Road Map: Here’s how (and why) the state is making a $12-billion pension payment next year
If you’re a homeowner, you’ve likely had someone suggest...
Good News: Alaska Pension Obligation Bonds On Hold
by meep
THANK GOODNESS.
Alaska governor halts sale of pension obligation bonds
:
Alaska Governor Bill Walker has called off the planned sale of up to $3.3 billion in state pension obligation bonds due to a lack of support from members of the state senate, he said on Tuesday.
Low oil prices...
Pension Obligation Bonds: Oregon and Alaska -- DON'T DO IT
by meep
Before we get to the current groups considering putting on those Bad Idea Jeans, here are prior posts on pension obligation bonds:
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20, Apr 2018
Tweets
meepbobeep
- @JanetheActuary @SOActuaries Oh wait -- one can do this in teams -- you wanna team up? Apr 20, 09:50 AM
- @JanetheActuary @SOActuaries I'm too tired to actually execute by writing this up. Somebody else want to? Apr 20, 09:43 AM
- @SOActuaries I'll do a real easy one: raise the minimum eligible retirement rate. Too much of a mortality bump at a… t.co/82Kv2FySzP Apr 19, 09:46 PM
- @phl43 a free beverage of my choice? i'd like some laphroig... Apr 19, 09:43 PM
The Random 3 Blogroll
Pension Tsunami by Jack DeanThe Other McCain
Leo Kolivakis at Pension Pulse