The Pension Crisis - What happens when the authorities give up? | John Moorlach

🔵 Watch the full video👉 https://youtu.be/XgZXdDyXLR0 🔵 Subscribe Our New Channel👉https://www.youtube.com/channel/UCFBMeA1yxZ7g8Z79t0O80-A - ⭕ EpochTV EXCLUSIVES. Only $1 Trial (Limited Offer) 👉 https://ept.ms/1DollarNOW4 🔵 Stay up-to-date with exclusive newsletter: https://ept.ms/EpochTVNewsletterYT - According to a recent report by American Legislative Exchange Council California’s unfunded pension liabilities are estimated to be at 1.5 Trillion dollars, that’s about $38,000 of debt for each Californian. You may wonder what are unfunded pension liabilities? And why we have so much of it… We guarantee that our government employees will receive a set amount of income at the time of retirement. In some cases, people get up to 90% of their current pay for the rest of their life and there as adjustments for the cost of living. This promise to the employees requires cities to invest enough money into the retirement accounts now as well as these investments performs according to plan. Most of the time neither is achieved. Since California’s pension benefits are very generous, it is hard for cities to keep up with the costs. Are these pension payment realistic or Will California face a pension crisis in the near future? To understand more about the pension liabilities we are facing I sat down with Former California State Senator John Moorlach. He served on the California Senate public employee retirement committee. He discussed with me the impact of unfunded pension liabilities on cities, and why he believes we are not dealing with the liabilities. #pension #pensionliability #retirement - 💛Support us to fight for the truth👉https://donorbox.org/epochtv 🔵 Subscribe to California Insider👉 https://www.youtube.com/channel/UCFBMeA1yxZ7g8Z79t0O80-A?Sub_confirmation=1 ------------------------------------------------- © All Rights Reserved.