Teachers» Pensions and the Overgrazed Commons On March 26, 2015 Governing published this commentary by Marguerite Roza and Michael Podgursky on how big raises to teachers nearing retirement is a recipe for letting
pension debt get out of control.
Not exact matches
The kicker is this: Dalio says the divide will only
get worse in the next 5 to 10 years, both because of a demographic squeeze that puts stress on
pension, healthcare, and
debt promises; and because of the effects of technological change on employment and wealth.
An illegal war Uncontrolled immigration # billions leaking every year via new quangos Students (in England) now have to mortgage their futures to
get to University 24 hour binge drinking breakdown of the family vast increase in licensed gambling External
debt quadrupled to $ 11 Trillion making us the second largest debtor nation in the world after the USA at $ 12 Trillion (we may overtake them later this year)
Pension funds pillaged for # 5Bn a year Gold reserves sold for a pittance Children leaving school unable to read or write NHS a basket case - 1 in 10 leave hospital sicker than when they went in.
Tackling that and
pension debt won't happen without union buy - in, so contract negotiations will be key to
getting the finances in order.
Now, I must point out: i) Independent News & Media is currently in the throes of a
debt &
pension restructuring — this could possibly improve things, but I'm not convinced it's going to be sufficient, and / or dilution for existing shareholders might be so bad ultimately the shares might as well be worthless, and ii) I still say my zero valuation for Continental Farmers Group was about right (God, just look at cash,
debt & cashflow in their latest results), but shareholders are v fortunately
getting bailed out by the Saudis at GBP 36p per share.
However, when one is working, or has the ability to take on work to increase monthly income, things may seem a bit easier compared to someone who has retired and is relying on RRSPs and
pensions to
get by, and often a little
debt advice goes a long way.
Doug Hoyes: Yeah, and I guess if you're retired but you've
got a significant
pension, perhaps you worked for a company that had a full
pension plan, maybe you were a government employee and worked for a big company, than you still have significant income coming in just not enough to be servicing all the
debts so you don't want to do a bankruptcy with the negative implications for that so in those cases, a consumer proposal does work as well then.
Famine — I assume an equity market cap of 24x FCF = 629 mm (but adjusting for Net
Debt and
Pension Deficit — I
get my own fair value target of 357 mm.
Conquest — I assume an equity market cap of 26x FCF = 744 mm (but adjusting for Net
Debt and
Pension Deficit — I
get my own fair value target of 333 mm.
This includes matters like who will stay in the matrimonial home; who will pay any outstanding
debts; how
pensions or other retirement savings will be divided; and who
gets the family pet.