This 2018 documentary investigates the role of state governments and Wall Street in driving America’s public pensions into a multi-trillion-dollar hole.
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Producers Marcela Gaviria and Nick Verbitsky and correspondent Martin Smith trace how state governments have withheld pension contributions to cover shortfalls and waged risky bets on Wall Street. Smith goes inside the volatile fight over pensions in Kentucky, a state whose once-flush pension system for its police, firefighters, teachers and other public workers became one of the worst-funded in the nation.
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Major funding for FRONTLINE is provided by the Ford Foundation. Additional funding is provided by the Abrams Foundation; the John D. and Catherine T. MacArthur Foundation; Park Foundation; and the FRONTLINE Journalism Fund with major support from Jon and Jo Ann Hagler on behalf of the Jon L. Hagler Foundation, and additional support from Koo and Patricia Yuen….(read more)
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That’s why you can’t trust the government to do anything. Invest the money on your own accord.
My husband and I had about 100,000 in our retirement account. Within 6 years we had lost most of that. Market downturn, shady investor with a reputable company. We had to start over, at 44 and 34 years of age, we thought we had time. We lost 96,000. We decided to move to another state for better jobs. 5 years later tragedy struck our family, my dad died, and we had to move back to our home state to take care of my elderly mother. A few years later my husband had a stroke and the rest is history. He is 70 and I am 60, I have a little about 26, 000 in my retirement account, my husband has nothing and we live on my income as a Respiratory Therapist and his SS. You can't count on anything, all you can do is your best. I hate to put money into my retirement, shell shocked from what happened to us but I have managed to save some. We know when I have to retire we won't have anything to speak of and we know we will be living below the poverty line. It's scary, but what can you do when life smacks you down. Our system is not for working class people it was set up for the wealthy and for those that don't have kids, are divorced, have elderly family or pretty much anything that would keep them from placing their money and their lives into the hands of people that do not, and never will have your best interest in mind. Something to keep in mind, the SS system is fraud in itself, there is no money in it. It's smoke and mirrors. Save what you can, spend as little as you can now, and keep your eyes on your own life, because no one cares if you fall on your face and starve in your old age.
This is why they should have payed into social security it is going to be a lot of hurt people well at least they can give them back their monthly deductions they payed into it. A lot of Wall Street been living like kings off other people money
That pension fund has been raped and why they would do anything like that so sad
I remember when Wall Street tried there best to get a hold on social security but the government of the United States of America said hell no
This is the reason why I will never invest my money on Wall Street because they don’t seem to know what they are doing.
Any update on how it ended up? They talked about 3 years until not being able to meet payments.
All this proves is you can never trust your government, the math never worked
I am extremely curious why Municipal and State Pension Boards don't invest their funds locally, in local franchises, extending credit for mortgages and small business loans for people in that Town/City/County/State, you know things that actually benefit the area Pension Holders are working and living in. It doesn't even need to be micro-managed, just invest in or see to the founding of a local Private Equity Fund that operates in that area exclusively
Frontline – what the best of journalism USED to be
Pension + SSI
How do you deal with this in USA?! I am married to a public school teacher in Denmark, and there is zero understanding at the dinner table for this problem. Teachers here face problems every day (like any teacher) but at the end of their yearly service the underpaid Danish teachers know they are rewarded with a pension that will let them live comfortably.
If you cannot offer and guarantee that to the people you charged with educating your children, then there is something terribly wrong with your local system.
You have to work 24 hours a day trying to stop all the abusers with their get raped they go to jail or die that you can't even mention or you get fired in one or two ways Chad this needs stopped someone tell the damn truth that it wasn't your vagina that ripped open so you didn't have a right to grab some guns and say oh you have to believe me
I mean it has to be illegal for law enforcement to mislead us when it's illegal for us to mislead them or vice versa what the hell are you guys doing?!?!?
5121 it makes more sense to build what you need to survive another day right now and stop the war like where is the jurisdiction that stops the malicious undue prosecution for obstruction of justice and extortion in terrorism and war crimes originating from the third judicial district Court November 18th 2020 I just have to keep waiting for it to keep happening like it's not because my oldest son wasn't there when his dad was raping and plundering or because he called someone else into doing it for him?
5121 how many of us don't have a pension because we spent it all on everyone else's everything while being told shut up you idiot they'll catch us and you're like yeah good because I want my money children and identity!!!!!
5025 exactly and we didn't need a bunch of guns and cuffs running around on us trying to convince us no one's doing martial law around here you don't even know what's happening
49 26 exactly you think not raping and stealing my children wouldn't even have been something I'd have to say once let alone 2500 times while being told oh well since the perpetrator said you wanted it you should pay us to do it
I thought a protective order man if you show up on my land you're dead now you get to send every time that can Harry tell harass me out of my money and children and happiness
No matter what you say or do it doesn't matter we get to rape you steal your children and put you in jail or murder you it's not worth it United States of America we all want out of that gig
Why would any of you get to decide whether or not I wanted right then extorted or whether or not I wanted my kids used as your sex dolls in court or anywhere else
I object to being forced to relive and attempted double homicide and rape that I didn't want to have happened to me and I refuse to keep paying to have people trying to convince me and didn't happen through my most prized possessions
How many times of discussing your rape and extortion every second of every day is too many home in Air Force Base how many times do you need to pay to have it happen to you before you like it
Hahaha we have to convince you you wanted raped and extorted is extreme emotional abuse you knew the kids weren't scared when they were laughing at you and sticking your tongue out at me saying I'm 14 I could do whatever I want
Stop abusing me for the perpetrator seems like exactly what the horses or chicken or pigs or cattle have been saying for a hot minute
4110 how do I get Cisneros to understand what I meant by cease and desist framing me or Jeremiah about stealing my identity and raping me that I was saying no to the whole gig even if I was supposed to be Heather it wasn't that cute
FBI do parents usually calm down the longer the terrorists raping their children and stealing their money for ransoms to keep them alive or the shorter down why is prolonged experience beneficial to extortional values
3757 we're not smart enough to not rape and steal your children it's too abusive to deal with New Mexico!
3654 seriously every department that doesn't have the mental capacity to understand do not rape and steal my children me my money my rights my anything out of while endangering me my children my rights my brother anything it's got to go now!
New Mexico figure out a way to get the criminals to understand they didn't have any right to come rape and steal my children and money!
3309 find and return my stolen grandchild children and money and have them inside my home apologizing immediately that's an order you don't start a war with me November 18th 2020 or before that and tell me shut up and smile b****!!!!!!
3228 that's exactly why they didn't have any business grabbing some guns and coming raping and plundering at my house
3056 what about when I need a dentist appointment or I want to be able to date someone without having to remember my missing kids and money and the threat zone that's always going to be chasing me for the assholes that they can because they have guns they can steal from me?
2733 how can I get out of civil navigation it's malicious undue prosecution and it's abuse and it is destroying my relationship with my children in case no one noticed that get raped to pay go to jail or die scam
They didn't even pay me most of my money I was supposed to be getting because they were busy trying to scare me in the jail to do undercover operations or into the hospital to do undercover operations because they know how bad their facilities are and they need someone to squeal for them
They go around making accounts and stuff and then you're like dude I can't access any of my money and they're like what money we don't know what you're talking about you're just angry for no reason we don't know where we put your kids but we know they didn't love you
The state police said they couldn't do anything about the case I would have to take it to the federal court the federal court acts like they can't see it if there's any cannabis anywhere or if they could get you for any tax evasion anywhere while remarrying me to the perpetrators that are selling c************** and trying to get me sex trafficked on the blackmail list of identity theft because no one knows what they've been doing and they need protection
2436 Jeremiah Paul Johnson Heather Eileen Evans and Marlene Cisneros ran a targeted violent terrorist operation using my children and innocent ponds in international skinny scammer business when I was over here working my tail off for all of them
We could really make racing more friendly unless endangerment
11:30 yes we don't have the capability to protect ourselves from all threats foreign and domestic because we staged ourself to not be able to so that we'd always have necessity is the mother of invention
If you stay taking care of your loved one until they die you're going to jail has got to get off our table
30 30 this is the most dangerous type of activity we should be doing everybody was complaining about oh horse racing and I'm like dude do you know what they've been doing to people and in some other animal ventures let's worry about that first
225 we should build one of my systems for the new track because that rain and running in that mud is dangerous