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pensions MiamiSprings can NOT afford to be paying any high pensions. Pensions is what-s breaking most of the cities in the USA ! How many officers can the City afford to be paying 80 thousand a year after they retire in their late forties early fifties ??? 40 officers retiring and right there you have over 3 million. We can-t afford to be paying for people that aren-t actually working !!! Pensions are a problem and they-re not sustainable anywhere.
pensions Here-s a scary retirement prediction: 85 percent of public pensions could fail in 30 years.
That-s according to the largest hedge fund firm in the world, Bridgewater Associates, which runs $150 billion for pensions and other institutions like endowments and foundations.
Public pensions have just $3 trillion in ets to cover liabilities that will balloon to $10 trillion in future decades, Bridgewater said in a client note last week obtained by USA Today.
To make up the difference, the firm said pensions will need to earn about 9 percent per year on their investments. But Bridgewater estimates pension funds are more likely to make 4 percent. If that-s true, the vast majority—85 percent—of retirement systems will run out of money because they will continue to pay out more than they take in.
The report comes as pensions wrestle with what rates of return to ume given their implications on future financial health.
The city of Detroit, for example, has reportedly agreed to increase its pensions- projected return to 6.75 percent on its pension funds, up from 6.25 percent and 6.5 percent, according to a separate USA Today report. The change is part of ongoing pension cut negotiations for the city to exit bankruptcy.
Comment Y-There was no other money added for greem=n stuff, what are you talking about?
Question The plan is loans. USA Swimming runs build a pool conferences around the country. They provide plenty if resources, proven programming, aquatic director training and grant financing info. It has been recommended to city hall to attend. However, they know best how to spend our money and have hired a consultant. Too bad for us again.
Comment Why did they vote to pay more money in addition to the $276,000 to the so called consultant to design a green friendly facility? That should have been in the original contract. Oh I forgot, the brilliant city attorney was involved in writing the first one. What a joke this entire process is.
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Springs Taxes Up Nearly 10%
On Monday, September 23rd, 2013, the Miami Springs City Council passed the fiscal budget for 2013 - 2014. It included an increase in the millage rate from 6.9950 to 7.6710. That equates to a 9.66% tax increase.
However, not everyone agreed to the budget in the 4 to 1 vote. Councilman and former mayor, Billy Bain, voted no. Michael Windrem, Zavier Garcia, George Lob, and Jaime Petralanda all voted for the budget during Monday's final budget meeting.
To put the 7.6710 millage rate in perspective, you can compare the Miami Springs millage rate to the proposed millage rates from our neighboring communities:
||72% lower tax rate than Miami Springs
||62% lower tax rate than Miami Springs
||31% lower tax rate than Miami Springs
||30% lower tax rate than Miami Springs
||29% lower tax rate than Miami Springs
||27% lower tax rate than Miami Springs
||19% lower tax rate than Miami Springs
Comment on the 2013 - 2014 budget and the corresponding tax increase on the Miami Springs political forum.
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