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Source: blog.nj.com Posted By: Smith L...5495 days ago
As of June 30, 2008 it was reported that the pension plan for New Jersey teachers is underfunded by $15 billion, a figure higher than the last valuation but certainly less than what it is now after three quarters of poor investment performance.
Would a bailout be in the cards for this plan?
Not a chance, and here's why.
As I blogged last year the real underfunding is much greater. Using reasonable assumptions while bringing liabilities up and assets down to date, a better estimate is $30....
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