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A comment on Reflecting on one very, very strange year at Uber. Parent comment

Re:Reflecting on one very, very strange year at Uber by lostboys67 on Wednesday February 22, 2017 @10:23AM (#13706130)
Ah Lies dam lies and Pension valuations - the current pension valuation rules are designed by accountants to make it easy for companies to shut them down.

On one valuation the BTPS is in surpluss

Oh and I am an activist not a full timer ;-)

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Re:Reflecting on one very, very strange year at Uber by smsm42 on Thursday March 02, 2017 @03:28PM (#13777880)
How about this pack of lies? http://www.zerohedge.com/news/2017-02-28/ny-teamsters-pensio...

I'm sure these people were very happy with their union reps, and their union reps were very proud of it. Until it turned out their pensions are unfunded. And now the taxpayers have to pay their pensions.

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Re:Reflecting on one very, very strange year at Uber by smsm42 on Wednesday February 22, 2017 @03:52PM (#13709027)
I didn't study the BT issue, but I read a bunch about how California did their pension valuations, and it's a circus. They basically just assume the fund would earn what they want, and project based on that. And needless to say, they assume they're market geniuses. And when it becomes dangerously underfunded, they just screw the newcomers - basically make a Ponzi scheme out of it by making new contributions finance the gaps for the old-timers and have new member to accept much worse conditions then the old ones.
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