10 hours ago
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Re: Pension deficit at $34 Billion
In reply to ljfinger,
6 months ago
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ljfinger wrote:
Bill Randall wrote:
The retirees have to be paid in cash (check). Asset deficit means you do not have the assets (cash) to cover the expense of the retirees. Where does the cash come from?
No, that's not what that means. It means your current assets do not match their total obligations. That's okay in the short run but it means you'll eventually run out of money if you can't get the situation to reverse before that happens.
--
Lee Jay
(see profile for equipment)
Total obligations as in current AND future? Alright, that makes sense. Thanks for correcting me.
Now, if the agency finds it cannot meet it's current obligations then it will have to come from the government tax payer. Is that right?
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