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Originally Posted by MikeG22
If pension funds are run correctly the tax payer shouldn't be on the hook for anything. Pensions like other retirement plans have an employee and employer contribution. Well when the employer is basically bankrupt they haven't held up their end.
I've noticed you still skate around the fact that a $100M bailout of a pension system employees earned is nothing compared to the $700B in the bailout of your banking idols who did nothing to earn it. I guess to people like you a 26% cut in income would have no effect on you.
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Even so pension funds are normally required by law to be fully funded as of that datin accordance with actuarial calculations, obviously Detroit's was not. Thankfully the laws back home are quite clear and my pension is fully funded.