Raider Cop Podcast

Pension Plan Blow Up #127

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Podcast: Raider-Cop Podcast

Date: Feb 19, 2020

Episode #127

Subject: Pension Plan Blow Up

Host: Al Martinino, Aka Alpha Mike

Characters: All First Responders Pension Plans

Intro: Host Al Martinino, talks about President Trumps recent "State Of The Union" speech and Virgina Bolshevik Guns law.

Word Of The Week: Though I speak with the tongues of men and of angels, but have not love, I have become sounding brass or a clanging cymbal. And though I have the gift of prophecy, and understand all mysteries and all knowledge, and though I have all faith, so that I could remove mountains, but have not love, I am nothing. And though I bestow all my goods to feed the poor, and though I give my body to be burned, but have not love, it profits me nothing. 1 Corinthians 13:1-3

Website: https://TestEverything1521.buzzsprout.com 

Main Topic: Outline Format

  1. Money is the root of all evil
  • Two billion people at risk of losing their pensions world wide
  • The public pension system is about to collapse in America
  • Wall Street is at the helm, and the money has been stolen
  • Just as Jimmy Hoffa Teamsters, invested in Las Vegas and loss, pensions are being gambled
  • 401K created in the 1970's as a employee supplement savings plan, not a retirement plan
  • Financial planners birth in the 70's, school teachers, shoe salesman, etc
  • Today Gov't want to replace pension plans with 401k
  • In the future Employers may not contribute to 401k
  • Pension plan are under funded and Wall Street steps in with high fee's
  • List of Gov't pensions recently in the news
  • Most pension boards have no experience in running the fund
  • Call to action

    • Reference:

    Dallas Police and Fire Pension chief isn't afraid of burning bridges to save the system

    City of Dallas owes more than $2 million to police and fire pension, lawsuit claims

    Billions in pension shortfalls threatening Texas cities' budgets

    Lexington shorted its police and fire pension fund $3.6 million over a decade

    Michigan Police Pension Files Securities Lawsuit Against Prudential

    Bill to consolidate Illinois public safety pension funds passes legislature

    Bill to protect Oklahoma officer pensions should pass

    Puerto Rico 2.6 million pension fund went to hacker instead 

    New Mexico Public Pension Reform Passes in Senate

    WB Pension Board votes against higher contributions

    Detroit pension fund sues its oversight panel over 'unlawful' executive pay raise

    California Public Pension Debt Soars to $1.4 Trillion in 2016, Up 45% in Just Two Years

    Perris paid off $14.3 million in pension debt, while other California governments struggle with it

    Riverside County’s unfunded pension debt grows to $3.5 billion

    Florida Supreme Court upholds law requiring state workers to contribute 3 percent to pension plan

    With Debt and Unfunded Liabilities Growing, Florida’s Pension System Still Needs Reform

    Public pensions in Florida

    Pittsburgh Municipal Pension Trust Fund explores divestment from fossil fuels

    Song of the Week: Gary B.B. Coleman - The Sky is Crying

    Up Next: Why RICO ? #128

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