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An unsolvable math problem - public pensions are underfunded by as much as $8 trillion

AUGUST 10, 2016 | by Tyler Durden | ZERO HEDGE

By Tyler Durden, includes "Defined Benefit Pension Plans are, in many cases, a ponzi scheme.  Current assets are used to pay current claims in full in spite of insufficient funding to pay future liabilities... classic Ponzi.  But unlike wall street and corporate ponzi schemes no one goes to jail here because the establishment is complicit.  Everyone from government officials to union bosses are incentivized to maintain the status quo..."

 

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