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One of the biggest private pension funds in the country is almost out of money, and fresh out of options. The Central States Pension Fund has no new plan to avoid insolvency. Without government funding, the fund will run out of money in 10 years.

Comment: Same fate awaits Illinois pensions unless benefits are cut fairly and rationally, immediately.

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Andrew Szakmary
The same fate does not await Illinois pensions because they are constitutionally guaranteed and courts have made it crystal clear they will order prioritized funding out of current revenues – just like for interest payments on the state’s bonds – if that is what it takes for contractual obligations to be paid. What is more interesting is that even the private, multiemployer funds could be made whole with very simple changes such as ending tax loopholes for the uber rich, as Bernie Sanders has proposed, and as the article mentions. But of course we cannot have that, because asking the rich to actually pay taxes at the… Read more »
Funny how all the money from “ending tax loopholes for the uber rich” always ends up in some sort of pension fund, be it public or private. How about every dime extracted from the “uber rich” goes into paying down the Social Security deficit? Or the national debt? Or how about for every dime from the uber rich results in a corresponding tax cut for the bottom on up? It reminds me of the arguments the public unions and Sanders make regarding a Financial Transaction Tax. That money always seems to be earmarked for some sort of public union-clouted services. Never a $ for $ reduction in… Read more »