ActionfigureJoe Posted February 22, 2019 Share Posted February 22, 2019 I’m sure glad that I’m not one to depend on this pension plan for my retirement. Grim results for 2018. Ended the year -3.3% on core U.S. financial markets struggled at the close of 2018. In October, the Dow Jones Industrial Average and the S&P 500 suffered significant losses, wiping out all gains for the year. Last month, the S&P 500 dropped more than 9.0 percent resulting in the index’s worst December performance since 1931 and worst annual performance since 2008. Emerging market stocks suffered the biggest losses in 2018. The MSCI Emerging Markets Index finished 2018 down 14.6 percent. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted February 22, 2019 Platinum Contributing Member Share Posted February 22, 2019 ANd where is it now? Dow has been straddling 26k most of the day Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted February 22, 2019 Author Share Posted February 22, 2019 Just now, steve from amherst said: ANd where is it now? Dow has been straddling 26k most of the day The bigger question is where will it be at the end of 2019? Down how much? There’s no stability in the market. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted February 22, 2019 Platinum Contributing Member Share Posted February 22, 2019 Or more likely, up how much. 1 Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted February 22, 2019 Author Share Posted February 22, 2019 1 minute ago, steve from amherst said: Or more likely, up how much. I’ve got about $450k in the fund. It’s not a ton, but it’s still a chunk. I’ve watched it grow at a nice steady clip since the 2008 crash. 2018 was the first year that it posted a loss. The yo-yo growth in the market is great for profit takers. I don’t see a big gain by year’s end. To much erratic messaging from this administration. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted February 22, 2019 Platinum Contributing Member Share Posted February 22, 2019 Big gain , no. But 27,500 can be somewhat expected. Quote Link to comment Share on other sites More sharing options...
Anler Posted February 22, 2019 Share Posted February 22, 2019 Thanks Trump! Quote Link to comment Share on other sites More sharing options...
XCR1250 Posted February 22, 2019 Share Posted February 22, 2019 WRS retirement annuity payments to retirees cannot be reduced from a retirees initial settled payment, that stays the same for the retirees lifetime no matter what, they can receive a yearly annuity increase or decrease but never lower than the original payment.. The investments WRS makes or loses monies is from several different sources e.g. Stocks, Bonds, Equities, Fixed Income Investments & other investments such as rental properties and are how the "extra" monthly payments to retirees are figured and that they can take the "extra" money back by a system called "smoothing", and that's done both up & down over a 5 year period, never at once. Look at the online webinar at The Department of Employees Trust funds, "how rates and adjustments are determined" http://bit.ly/2SIrUAJ or contact ETF directly. A minus 3.3% will amount to about $30-$60 a month depending on how much the increased annuity payments are and only IF the retiree had ever received an increase. Drop in the Bucket. Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted February 22, 2019 Author Share Posted February 22, 2019 9 minutes ago, XCR1250 said: WRS retirement annuity payments to retirees cannot be reduced from a retirees initial settled payment, that stays the same for the retirees lifetime no matter what, they can receive a yearly annuity increase or decrease but never lower than the original payment.. The investments WRS makes or loses monies is from several different sources e.g. Stocks, Bonds, Equities, Fixed Income Investments & other investments such as rental properties and are how the "extra" monthly payments to retirees are figured and that they can take the "extra" money back by a system called "smoothing", and that's done both up & down over a 5 year period, never at once. Look at the online webinar at The Department of Employees Trust funds, "how rates and adjustments are determined" http://bit.ly/2SIrUAJ or contact ETF directly. A minus 3.3% will amount to about $30-$60 a month depending on how much the increased annuity payments are and only IF the retiree had ever received an increase. Drop in the Bucket. That $60/month wouldn’t be a drop in the bucket under Obama. Nope. Quote Link to comment Share on other sites More sharing options...
XCR1250 Posted February 22, 2019 Share Posted February 22, 2019 1 minute ago, ActionfigureJoe said: That $60/month wouldn’t be a drop in the bucket under Obama. Nope. In the WRS system you are NOT entitled to any increase and the ONLY monies they can LEGALLY take back is the profit increase that a Retiree had received from WRS making monies from its investments, never your final adjusted annuity. Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted February 22, 2019 Author Share Posted February 22, 2019 4 minutes ago, XCR1250 said: In the WRS system you are NOT entitled to any increase and the ONLY monies they can LEGALLY take back is the profit increase that a Retiree had received from WRS making monies from its investments, never your final adjusted annuity. I understand that. However, because the system is self funded, the board can make changes to monies paid in order to maintain the integrity of the system. String together a few years of these losses and you’ll see an adjustment. That’s the reality of a self funded system vs what Illinois has. Quote Link to comment Share on other sites More sharing options...
XCR1250 Posted February 22, 2019 Share Posted February 22, 2019 (edited) 13 hours ago, ActionfigureJoe said: I understand that. However, because the system is self funded, the board can make changes to monies paid in order to maintain the integrity of the system. String together a few years of these losses and you’ll see an adjustment. That’s the reality of a self funded system vs what Illinois has. They DO make yearly adjustments, up & down, always have..you will NEVER see an adjustment made to a retirees final annuity and that's the law..do you realize they have over 100 Billion $ in the Fund? Are you a retiree? Or still working? General employee, perhaps a Teacher or Law enforcement, Engineer, Technician, Campus Cop, DNR Game warden? If I may ask. Edited February 23, 2019 by XCR1250 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted February 23, 2019 Platinum Contributing Member Share Posted February 23, 2019 14 hours ago, XCR1250 said: They DO make yearly adjustments, up & down, always have..you will NEVER see an adjustment made to a retirees final annuity and that's the law..do you realize they have over 100 Billion $ in the Fund? Are you a retiree? Or still working? General employee, perhaps a Teacher or Law enforcement, Engineer, Technician, Campus Cop, DNR Game warden? If I may ask. He's a transformer. He transforms junkies into drunks. Quote Link to comment Share on other sites More sharing options...
XCR1250 Posted February 23, 2019 Share Posted February 23, 2019 WRS has stated: "we are anticipating either no change or a 0.5% adjustment to retirees Core benefit payments beginning May 1st". Quote Link to comment Share on other sites More sharing options...
Zambroski Posted February 23, 2019 Share Posted February 23, 2019 29 minutes ago, steve from amherst said: He's a transformer. He transforms junkies into drunks. He’s a victim who coaches others to stay the same. He lived in a dark world of fright. Quote Link to comment Share on other sites More sharing options...
racer254 Posted February 23, 2019 Share Posted February 23, 2019 3 hours ago, Zambroski said: He’s a victim who coaches others to stay the same. He lived in a dark world of fright. Wow, I couldn't have worded it any better. Quote Link to comment Share on other sites More sharing options...
Zambroski Posted February 23, 2019 Share Posted February 23, 2019 31 minutes ago, racer254 said: Wow, I couldn't have worded it any better. Meh...you could’ve changed the “d” in “lived” to an “s” like I meant. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted February 23, 2019 Share Posted February 23, 2019 23 hours ago, ActionfigureJoe said: I’ve got about $450k in the fund. It’s not a ton, but it’s still a chunk. I’ve watched it grow at a nice steady clip since the 2008 crash. 2018 was the first year that it posted a loss. The yo-yo growth in the market is great for profit takers. I don’t see a big gain by year’s end. To much erratic messaging from this administration. Yup Quote Link to comment Share on other sites More sharing options...
Anler Posted February 24, 2019 Share Posted February 24, 2019 On 2/22/2019 at 5:04 PM, ActionfigureJoe said: I understand that. However, because the system is self funded, the board can make changes to monies paid in order to maintain the integrity of the system. String together a few years of these losses and you’ll see an adjustment. That’s the reality of a self funded system vs what Illinois has. Illinois is not what any pension should be modeled after. $250 billion in pension liabilities. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted February 24, 2019 Platinum Contributing Member Share Posted February 24, 2019 30 minutes ago, Anler said: Illinois is not what any pension should be modeled after. $250 billion in pension liabilities. If ya look at most states you will see as gross as that sounds , its the norm. ANd most are unfunded. It really is the next financial disaster waiting to happen. Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted February 24, 2019 Author Share Posted February 24, 2019 28 minutes ago, steve from amherst said: If ya look at most states you will see as gross as that sounds , its the norm. ANd most are unfunded. It really is the next financial disaster waiting to happen. It’s all coming together nicely. The socialists are a starving man’s friend Quote Link to comment Share on other sites More sharing options...
Zambroski Posted February 24, 2019 Share Posted February 24, 2019 1 hour ago, ActionfigureJoe said: It’s all coming together nicely. The socialists are a starving man’s friend Misery loves company! Spread it equally! Quote Link to comment Share on other sites More sharing options...
Anler Posted February 24, 2019 Share Posted February 24, 2019 5 hours ago, steve from amherst said: If ya look at most states you will see as gross as that sounds , its the norm. ANd most are unfunded. It really is the next financial disaster waiting to happen. Yeah but this one only affects the pensioners. There just won't be any money to pay them. Quote Link to comment Share on other sites More sharing options...
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