Financial projections fail because no one knows the future of the economy and mortality rate decades into the future.
Which is why they failed and almost every state and city government is in unstated debt via their underfunded defined benefit pensions.
It’s also easy to steal from pensions under the guise of plausible deniability so the mechanism itself is broken, the people 30 years into the future have no way of keeping the people 30 years in the past in check.
Which is why they failed and almost every state and city government is in unstated debt via their underfunded defined benefit pensions.
It’s also easy to steal from pensions under the guise of plausible deniability so the mechanism itself is broken, the people 30 years into the future have no way of keeping the people 30 years in the past in check.