Saturday, Jul 26, 2014
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Recent Comments

GoQuincy - Second break-in suspect identified - Quincy, IL News - QuincyJournal.com
Hope he enjoyed the last 4 days of freedom because that is the last he will have for quite sometime! He will still be looking over his shoulder.
CoolEdge - Illinois gets below-normal rain and temperatures - Quincy, IL News - QuincyJournal.com
Funny, I always hear the global warming nuts claim a hot day is from global warming. Of course, a one degree change over 100 years is not noticeable by anyone. But there may not really be any warming, since the urban heat island effect was not well accounted for. And Al Gore isn't a guy doing, you know, science. He is a politician now activist that had his net worth go from $2 million to over…
gothamtroll - Second break-in suspect identified - Quincy, IL News - QuincyJournal.com
Well he certainly covered some ground unlike his partner. I would certainly love to commend both the Marshals and local authorities on well conducted communications in an expedited effort to capture Kelly despite him quickly heading south eastward.
WarCry - Burlington, IA considering requirement for toy gun cases - Quincy, IL News - QuincyJournal.com
It's a cascading problem. Starting in the late 70s, early 80s, hunting became less and less. Parents stopped teaching their kids about firearms and gun safety, and the world because more suburban. Now those kids are adults and the only thing they know about guns is what they get in movies. And so they teach their kids that guns are bad, and the problem worsens. It's not any one thing causing…
gothamtroll - Burlington, IA considering requirement for toy gun cases - Quincy, IL News - QuincyJournal.com
Well I'm certainly glad I've long since lost/misplaced my childhood super soakers and cap gun. I'd hate to think I could potentially be punished by law for having had those 'out in the yard'. Yet again, policy makers grasping for straws. What next? My metallic painted handcuffs that have a release switch on the side? Are they going to deem my having those as impersonating…

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Report: 5 state pension funds owed $100.5B

6 months, 2 weeks ago sj-r.com

Debt would have been lower if computation method hadn't been changed

From sj-r.com:
Illinois’ pension debt has officially topped $100 billion, according to a new report issued Wednesday.
And in a bit of irony, the debt would have been lower if lawmakers hadn’t decided in 2009 to change the way it’s computed — in order to lessen the effects of stock market losses.
The report from Auditor General William Holland’s office shows the unfunded liability of the five state-funded pension systems was $100.5 billion as of June 30, the end of the state’s fiscal year. That’s an increase of $5.9 billion from the previous year.
However, that’s the deficit as computed using a process called “asset smoothing” in which investment gains or losses are spread over a five-year period. That approach was adopted by the General Assembly in 2009 at a time when the recession was devastating investment income for the systems. The first time the smoothing system was used, it resulted in the pension deficit being $15 billion lower than it would have been otherwise.
In the latest report, the pension deficit would have increased only about $668 million, to $97.5 billion, had the smoothing method not been used. That’s a reflection of the significant gains in the stock market in the past year.
“The smoothing is intended to even out the extremes,” said Rep. Elaine Nekritz of Northbrook, the House Democrats’ point person on pensions.
Although some may be tempted to have the state return to the old system, Nekritz said that would be a mistake.
“To really be successful at that, we would have to be anticipating the market and I don’t think that’s a task we should be pursuing,” Nekritz said. “Asset smoothing is used by a fair number of pension systems around the country, so it’s not like Illinois is unusual in adopting that method.”
The numbers reflect the pension debt before lawmakers approved a pension reform plan.

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