Morons, thieves, lazy, scumbags. Hire them to "protect" your pension, and Detroit is what you get------------------------Pension financing is even more complicated than I thought.

Pension financing is even more complicated than I thought. | Public Sector Inc:

"Detroit City Manager Kevin Orr has charged (accurately) that over more than a decade the city’s main pension plan siphoned off over $750 million from the plan’s investments to pay so-called “13th checks” to both workers and retirees.

Union official and pension board member John Riehl, who was involved with these bonus payments, responded:
“Some say that if the board had invested those excess earnings funds over the 23-year period, the pension fund would be in better shape today. 
Given the numerous factors that influence fund performance over such a long period, it’s impossible to predict whether that’s true.”

Look, I know this stuff is technical and maybe I’m not bright enough to get it.
But can someone explain to me how putting another $750 million in the City’s pension could have failed to make it better off?
The worst you can do is lose it all, in which case you’re still even."