enthalpy

enthalpy

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The truth shall set you free, but first it's going to piss you off

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Saturday, March 14, 2009

Posted 3/14/2009 02:33:00 PM by Douglas

TRS lost $30 Billion more than they originally thought. To that I say get in line.

A newly released report shows that the state teacher retirement system has suffered investment losses that were billions of dollars more than expected.

On Friday, legislators were assessing the report, which showed the pension’s unfunded liabilities have more than tripled in six months — to $40.4 billion from $11.5 billion, according to an online story in the Fort Worth Star-Telegram.

If the shortfall is not made up, the pension in the long term won’t be able to meet its obligations to all its members.

I have no idea how this is news. Guess who else has lost 30-50% of any savings they had invested in retirement plans? Everyone.

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