Wednesday, October 24, 2018
"The Pension Gamble" on PBS Frontline
Tuesday night, Oct. 23, PBS Frontline aired “The Pension Gamble”.
The documentary examined the developing unsustainability of pubic employee pensions, most of all focused on Kentucky. In fact, PAAMCO Prisma responded to the broadcast with this link.
The narrative explained how in the past public employees had defined benefit plans, which have gradually been replaced by hybrid plans that may be a little better than comparable plans in private industry, such as what I got when ING froze our pensions in 2000 (I was laid off or rather bought off with a retirement package at the end of 2001 in major downsizing).
However, as the documentary showed, many intermediaries on Wall Street made off well during the growth of the pension funds.
The documentary focused also on the plight of teachers in some states, like West Virginia, where many teachers have two jobs.