Comment I wonder how this will affect retirement payouts (Score 2, Interesting) 655
I have two good friends who are retired school psychologists from New York ad everytme I read about New York's financial problems, I think of them.
Same thing in California: two relatives are teachers, and one is just about to retire on a teachers pension. I think that California is very close to bankruptcy.
Pensions may sound good, but it may be that only federal government pensions may pay out because the federal government can print money ad pay out in highly devalued dollars).