N E W P A G E
The opening meeting of this new Commission announced a summer reading list which can be found on this webpage: https://www.cga.ct.gov/fin/taskforce.asp?TF=20180710_Pension%20Sustainability%20Commission
OPENING MEETING: http://www.ctn.state.ct.us/ctnplayer.asp?odID=15473
July 24, 2018 first meeting - Sec'y Barnes' power point.
What did one member ask? ANS: "YES, BUT..."
"Are the properties listed on your website (the State website) the actual list of State of Connecticut - owned properties?"
What are some mechanisms to adjust stuff? How about data available on assets?
You could shift funds within the State Budget to make the books balance
(my words here). Data resources now posted - a page from PEW - we
suppose this reflects the timing of investment problem...
HOW DO YOU SUGGEST THIS WILL ALL END? WILL THE LOTTERY FINANCE PUBLIC SECTOR & TEACHER RETIREMENT?
Not joking, Sec'y Barnes describes the act of drowning in debt as we
will be witnessing when the "balloon" payment hits or pops.
2025 is a big year.
...Professor Saulnier explained what would happen when the U.S. no longer had enough gold to back the dollar.
(The currency would then "float"). He drew two lines crossing in
an "X." Turning to the large lecture hall he said: "I
don't want to be here when that happens (which it did, in @1971)"
We are going through the reading list from top to bottom...
- PEW: https://www.cga.ct.gov/fin/tfs/20180710_Pension%20Sustainability%20Commission/PEW%20Report.pdf
- "ECONOMICS 101": https://www.cga.ct.gov/fin/tfs/20180710_Pension%20Sustainability%20Commission/Brookings%20Institute%20-%20State%20Local%20Pension%20Deficit%20Funding%20Primer.pdf
CTNEWSJUNKIE "EXTRA EXTRA":
CT MIRROR: https://ctmirror.org/2018/07/24/panel-seeks-new-ways-slow-skyrocketing-state-pension-costs/