‘Allsides’ of the Looming Pension Crisis

Of course, this post cannot possibly live up to the hype of the headline. No, this is not an archive of “all sides” of the looming pension crisis.

But it is another account of what our world is facing with this topic. See the slide show above for an introduction with links to story content.

Authors Richard A. Marin and Robert H. Frank Global Pension Crisis is a lively, entertaining, yet terrifying book. Before you read very far into it you’ll realize that looming Boomer retirements are a ticking time bomb that threatens even those who have saved prudently for most of their lives. That’s because many millions of others will enter retirement with virtually no private savings. The second group, which is far huger than the first, will face unmet needs that governments will find politically impossible to ignore. And to meet those needs, we’ll need lots of additional tax revenue, which can only come from those in a position to provide it As Willie Sutton replied when asked why he robbed banks, “that’s where the money is.”

California’s state and local public pension crisis has festered for many years. PRI study California’s Pension Crowd-out (Winegarden 2016), traces the root causes of this crisis.) Simply put, California has consistently failed to make the required contributions to its public pensions while offering current and former employees costly benefits that grow faster than the state’s ability to afford them. The result is the persistent unfunded liabilities associated with California’s public pensions. This large, and growing, unfunded debt problem is visualized in these REPORTS.

There is a looming pension crisis in the U.S. that unless addressed quickly by the federal government could jeopardize the retirement security of hundreds of thousands—if not millions– of Americans. Multi-employer pension plans provide pension benefits to over 10 million Americans in industries as diverse as construction, mining, trucking, and retail and a significant number of these plans find themselves in seriously stressed financial condition. If these funds become insolvent—and the timeframe for that insolvency ranges from 2 to 8 years—the results could be devastating for retirees, for current employees, for the companies that contribute to the plans, and for the communities in which companies and beneficiaries reside. ▶ MORE

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‘Steele Dossier’ at bargain price via Amazon

Now that the Mueller Report is finished (sort of), the world realizes that the presumed foundational document for the Russian collusion investigation, the so-called STEELE DOSSIER, is practically worthless, as confirmed by the Kindle Version price ($0) on AMAZON, archived here.

Strassel: Mueller Should’ve Looked at Whether Steele Dossier Was Russian ‘Disinformation’▶ Fox News contributor and Wall Street Journal Editorial Board member Kimberley Strassel argues that Special Counsel Robert Mueller erred by not investigating whether the Steele dossier was part of the Russians’ effort to interfere in the 2016 presidential election.▶ http://bit.ly/2W5HyI6 

©answers ▶ WHO? WHAT? WHEN? WHERE? WHY? HOW? ▶ Today’s tweets are tomorrow’s posts by @altaloman aka canswerist.com® ▶ socialcurrentsee.com® ▶ altacities.com® ▶ primeinfidelity.com® ▶ news.altacities.com® ▶ SUBSCRIBEmagazines.altacities.com® ▶ allsides.altacities.com ® ▶

The ‘Pareto’ Rule of HOA Life

APATHY begets silence and APATHY portends a stagnant organization. Those in the vocations of the day may apply this observation only to a corporation, a nonprofit, or a governmental division. But what about common interest developments (aka homeowner associations or HOAs)? Surely, this caveat applies here as well in TRILOGY Glen Ivy ▶ PDF

From Trilogy Glen Ivy, incorporated on October 11, 2001, one of the first common interest developments in the Temescal Valley, Inland Empire, Riverside County, CA 92883

How many residents live here?
Total dwellings = 1317

514 (est.) are dwellings with a single occupant (39% is the CA state average)
803 dwellings have two occupants, generally married couples =
1606 dual habitants +
514 single habitants =
2120 total population of Trilogy Glen Ivy (est.)

This may or may not be the actual number that only the HOA knows.

 So consider this…

 If 20% of the 2120 Trilogy residents actually voted in and became informed about HOA elections that number would equal 424 residents. The 2018 TGMA election had 471 participants, or about 10% greater than the expected 20% (as per the Pareto’ Rule), but still very close to the 20% rule.

But that enumeration may not tell the complete story.

On any given day, due to the nature of a 55+ community, the following factors may diminish (shrink) homeowner (member) participation in HOA matters:

  1. 20% of the population may well be on vacation or out-of-area (A. 424)
  2. 20% of the population left may have health reasons that prevent participation (B. 339)
  3. 20% of the population left may be home, but not able to understand the election issues well enough to be comfortable with election participation (C. 271)
  4. 20% of the population may simply be too apathetic to be engaged (C. 217)
  5. So add the numbers: 424 (A) + 339 (B) + 271 (C) + 217 (D) = 1251
  6. 2120 – 1251 = 869

So these calculations leave the HOA to consider influencing the remaining 869 homeowners who are not otherwise preoccupied or unable to be engaged. In the last election (2018), TGMA was able to get more than half (471) of this number to actually vote. Such is the reality of conducting HOA elections today. 

One other consideration? What about the number of 55+ residents in an HOA community who still work?

According to the U.S. Bureau of Labor Statistics (BLS), about 40 percent of people ages 55 and older were working or actively looking for work in 2014. That number, known as a labor force participation rate, is expected to increase fastest for the oldest segments of the population—most notably, people ages 65 to 74 and 75 and older—through 2024. In contrast, participation rates for most other age groups in the labor force aren’t projected to change much over the 2014–24 decade. 

So, if you consider that 40 percent of 2120 Trilogy residents (848) are likely to still be working, what impact might occupations, vocations, and avocations have on their attention, interest in matters HOA? It is a safe bet to believe this is a real underlying cause for what HOA managers, legal counsel, and other residents like to blame on APATHY.

The Pareto principle (also known as the 80/20 rule, the law of the vital few, or the principle of factor sparsity) states that, for many events, roughly 80% of the effects come from 20% of the causes. … Pareto developed both concepts in the context of the distribution of income and wealth among the population.

Maybe, these statistics have some bearing on why the 2019 election for the TGMA board included the minimum number of candidates (3), all incumbents. No new candidates declared. So, truly, there is a dirth of new candidates available to run for the HOA board after the Pareto 20% principle is applied and after one calculates the number of 55+ residents (40%) still in the workplace, either full-time or part-time.

Prime Case

VISIT ▶ http://www.abbyjohnson.org/

Abby Johnson

… is an American anti-abortion activist who previously worked at Planned Parenthood as a clinic director, but resigned in October 2009. She states that she resigned after watching an abortion on ultrasound. Her memoir, Unplanned, was made into the 2019 movie of the same name. ▶ @PRIME

All Abby Johnson ever wanted to do was help women. As one of the youngest Planned Parenthood clinic directors in the nation, she was involved in upwards of 22,000 abortions and counseled countless women about their reproductive choices. Her passion surrounding a woman’s right to choose even led her to become a spokesperson for Planned Parenthood, fighting to enact legislation for the cause she so deeply believed in.

Until the day she saw something that changed everything, leading Abby Johnson to join her former enemies at 40 Days For Life, and become one of the most ardent pro-life speakers in America.

Some calculations | SOURCE: http://bit.ly/2DhQ5jT 

In other words, only 8.5 percent of the American female adult population and 4.3 percent of the entire American adult population has personally experienced an abortion. 

SOCIALCURRENTSEE.COM® 

READ

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Prime Place

Warren Buffett and Bill Gates agree this 1969 classic is still the best business book of all time—here’s why

Business Adventures remains the best business book I’ve ever read.” ~ Bill Gates, The Wall Street Journal MORE

“What do the $350 million Ford Motor Company disaster known as the Edsel, the fast and incredible rise of Xerox, and the unbelievable scandals at General Electric and Texas Gulf Sulphur have in common? Each is an example of how an iconic company was defined by a particular moment of fame or notoriety; these notable and fascinating accounts are as relevant today to understanding the intricacies of corporate life as they were when the events happened.

“Stories about Wall Street are infused with drama and adventure and reveal the machinations and volatile nature of the world of finance. Longtime New Yorker contributor John Brooks’s insightful reportage is so full of personality and critical detail that whether he is looking at the astounding market crash of 1962, the collapse of a well-known brokerage firm, or the bold attempt by American bankers to save the British pound, one gets the sense that history repeats itself.

“Five additional stories on equally fascinating subjects round out this wonderful collection that will both entertain and inform readers . . . Business Adventures is truly financial journalism at its liveliest and best.”

READ

Just in…

Prime Collusion

The “left” may be better at this than the “right”

According to the SOURCE, “what if the Russians really are colluding with Americans…on the left?

“#1 New York Times-bestselling author Newt Gingrich returns with this rollicking tale of high-stakes international intrigue—the first book in a contemporary series filled with adventure, betrayal, and politics, that captures the tensions and divides of America and the world today. 

“Valerie Mayberry comes from the kind of wealthy family that would be royalty in any other country. Obsessive and compulsive, she’s also the FBI’s counter-intelligence expert on domestic terrorism.

“Brett Garrett is a dishonorably discharged ex-Navy SEAL coming off a secret opioid addiction. A brusque, fiercely independent operative who refuses to play by the rules, the seasoned pro is now a gun for hire, working as a security contractor in Eastern Europe.

“When a high ranking Kremlin official with knowledge of a plan to attack the US must be smuggled out under the nose of a kleptocratic Putin-like Russian president and a ruthless general, Mayberry and Garret are thrown together to exfiltrate him and preempt a deadly poisonous strike.

“As these unlikely partners work to protect their human asset, their mission is threatened by domestic politics: leftist protests, Congressional infighting, and a culture riven by hatred.

“Collusion raises many of the most significant issues facing America in real life today. Is Russia our ally, or our enemy? Are American leftist activists susceptible to influence from aboard? How far will our enemies go to disrupt our politics and weaken the nation? Can we trust the media to differentiate between the good guys and the bad guys?

“Newt Gingrich and Pete Earley have entertained and educated readers with three previous novels of Washington scandal and foreign interference. From its explosive opening through several twists and turns to its heart-stopping end, Collusion is their most timely and powerful novel yet.”

See ▶ The LAST CASE

NEWT GINGRICH is the former House Speaker and 2012 Presidential Candidate. Gettysburg, Pearl Harbor and To Save America: Stopping Obama’s Secular-Socialist Machine are three of his 14 New York Times bestsellers. He is a regular guest on national political shows.

Prime News

Tech NUZZEL in two minutes or less, also archived in
ALARMWORTH®

According to SOURCE, “cybercriminals have been directing users to download something called Exodus, an app that was actually malware. It allowed access to photos, videos, device IDs, audio recordings, and contacts, potentially tracking a victim’s location and listening to their conversations through the microphone. It’s an unusual break-in for Apple’s locked-down ecosystem, but it’s a reminder to stay vigilant no matter how safe you think your devices are.” ▶ NUZZEL

Prime Ponders

More Toll Roads to Fix America’s Pension Crisis?

At first read, the #SCS* of this story seems to make sense…
___
* SCS = #SocialCurrentSee

Even though toll roads are almost as ancient as civilization, the idea remains a mixed blessing. Government officials at every level embrace the idea as a win-win. Taxing authorities defray or avoid full-revenue generation to pay for vital transportation needs while they offload much of the administrative cost for transportation. Taxpayers unevenly assume the costs of toll roads because those who pay are only those who use. Seems fair? ▶ NUZZEL

A comprehensive look at the crisis of unfunded pension liabilities and what must be done to avoid the same problem in the future

As the generational bubble of the Baby Boomers begins to retire, it is increasingly evident that governments, corporations, and individuals have failed to adequately prepare for the obligations and needs of this giant cohort. Retirees are outliving actuarial life expectancies, pension liabilities are skyrocketing, pension plans are underfunded, and medical costs rise, the United States alone can expect unfunded liabilities to exceed $4 trillion.

READ

Prime Voice

#VarsityBlues (continued)
Like most other stories in the SocialCurrentSee® of our time, public sentiment in this is largely divided in determining what, if any, justice should follow in the pending trials of the elites who are charged by the FBI.

The April 3 Boston court appearance by Loughlin, Giannulli, and others so charged brought some additional notoriety due to the showtime display by some of the defendants. We welcome your comments.
LISTEN

Since the Ides of March, our SocialCurrentSee (scs®) archives have been populated with ample content linked to #VarsityBlues, aka the college admissions scandal. By now, the world knows that actresses Lori Loughlin and Felicity Huffman headline a list of more than 50 high-profile personalities indicted in the blockbuster FBI undercover sting to expose the scandal.

According to a SOURCE in Boston (where the trial began April 3), Lori Loughlin cleared any trace of her presence on social media after being charged in the scandal. As news emerged of the Full House star’s alleged involvement, the actress decided to delete her Instagram and Twitter, which has been inundated with tweets about the conspiracy. One daughter Olivia Jade is a well known YouTube star and beauty expert. Reports claim that there are actually court documents that show that Lori Loughlin and her husband, Mossimo Giannulli, agreed to pay bribes totaling $500,000 to get their daughters designated as recruits to the USC crew team despite the fact that they don’t participate in crew.

Now, much of the public angst about this case invokes certain sympathy for the deserving students who were blocked from attending these elite schools because of the admissions scam.

UPPER CASE characters are principals in the public domain, icons overexposed in continuing SocialCurrentSee® and linked to billions, including monetary interests
lower case characters have common names and lives to match, but titles under pseudonyms designed to protect revelation (An unrelated CASE in HALLMARKS)
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