An interesting, if not groundbreaking or even necessarily directive, article on pensions. One supposition that jumped out at me:
Actuaries, who set recommended levels of contributing to pensions, have been far too optimistic. They’ve made bad assumptions about how many people will take early retirement and at what age retirees will die. They’ve suggested that pensions go unfunded based on predictions of controlled decline in the future.
So the question is, what’s the batting average for Alameda’s actuaries over the last 15 years? Anyone up for a public records request?