Re(2): Mike Deeson from Tampa 10 IP: 71.180.79.242 Posted on March 12, 2010 at 03:22:05 PM by Jerry Wotherspoon
Over the last few years, there have been several scenarios for change to our pension discussed. Some closely scrutinized by accounts, actuaries and board members, some haphazardly slapped together and then recommended by "dingbats". Thank goodness none have been instituted.
I would recommend that a couple of well thought out pension changes be run in a "real time" parallel simulation. This could have been done over the last few years, with results now available, to the best of my knowledge, it wasn't.
Well, there is no time like the present. Run a "real time" simulation, now. Keep it going for a year and then submit the results next year for evaluation and consideration.
Running a "real time" simulation would be a heck of a lot cheaper than making a "not so rash" decision to have legislation make changes that may not work, could be detrimental to both or either the retirees and the city and would be very difficult to change back.
Only a suggestion, I'm not an actuary or an accountant, so I don't understand how they come to their conclusions, maybe they do a "real time" simulation. Maybe not?