Debt collapse ‘perfect storm’ shaping up that will almost instantly wipe out pension funds nationwide

a12iggymom's Blog

Wednesday, December 21, 2016 by: JD Heyes

Image: Debt collapse ‘perfect storm’ shaping up that will almost instantly wipe out pension funds nationwide

(NaturalNews) There is a “perfect storm” of events shaping up that will take most Americans by surprise – especially those who paid into, and now rely on, a pension tohelp make ends meet after retirement.

Unbeknownst to most people, pension funds in the United States are grossly underfunded. In fact, according to The Financial Times, academic research has determined that the collective funding shortfall for all U.S. public pension funds combined is three times larger than official figures indicate – and it’s getting bigger.

Rep. Devin Nunes, R-Calif., said that for years it has been clear “that many cities and states are critically underfunding their pension programs and hiding the fiscal holes with accounting tricks.” In fact, the city of Dallas just moved to freeze withdrawals from its fire and police pension funds because they are billions of dollars in the…

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