Until you understand the method, this seems like madness.
The proposal to establish the nation’s earliest state-run pension fund for mixed-martial arts fighters was overwhelmingly approved by the California Legislature. It was made by a lawmaker from the Bay Area.
Asm. Assembly Bill 1136 This week, Matt Haney( D-San Francisco ) sent the bill to Gov. John F. Kennedy after passing the State Senate with a 34-0 vote and the Assembly with the 76-0-0 vote. Gavin Newsom to sign this document.
Not only MMA fighters, either. The one-party state of California has been actively broadening the reach of its pension assets. Sacramento unleashed CalSavers next year. Employers are required to give CalSavers the names of their employees, who are therefore immediately enrolled and have a portion of the paycheck taken out unless they have the knowledge to opt out. Calsavers currently has over$ 600 million in assets from a population of about 500,000 to manage. A second or so were wise enough to quit school. Most weren’t. The California Public Employees Retirement System ( CalPERS ) hired David Teykaerts to lead CalSavers. What’s up with CalPERS? According to Chief Investment Officer Nicole Musicco, the California Public Employees’ Retirement System underperformed another significant U.S. public pension systems over the past ten years, missing out on potential earnings of billions of dollars. No like the pensions of a sizable portion of the state’s employees and the common bureaucracy are on the line. The staff of the pension fund refers to it as a” prudent” calculated risk. Critics describe it as a desperate move. Both parties concur that the fund is under pressure to perform given its hundreds of billions in unpaid coming pension debt, consistently basement-scraping interest rates, and current pandemic-ravaged economy.
The pension fund’s money-making strategy has been reevaluated by the board of directors last month, and CalPERS ‘ switch to direct lending is a part of that. The plan also enables the fund to borrow up to$ 80 billion to boost potential profits; however, the 11-figure amount has drawn criticism from some financial experts and cries of outrage from various political and financial commentariat groups. At CalSavers, some more Californians can now benefit from the higher standards of the CalPERS method. Does anyone inside of California care about this? Yes. Pensions are only important to these people as assets they can play with. Consume them, profit from their use, dedicate them to socially appropriate causes, and then use them as weapons. What New York is doing is as follows. The Fox Corporation and its board were sued by New York City’s pension funds on Tuesday, claiming that the company had neglected its obligation to shareholders by exposing itself to defamation lawsuits as a result of the ongoing broadcasting of false information about the 2020 presidential election. You can compel businesses to support your social agenda if you have billions in assets. The retirees whose pensions you are tampering with may perish in hell. Maximizing democratic power is the key to success.
This method is not as crazy as it seems until you learn the method.
The California Legislature unanimously approved the proposal of a Bay Area legislator to create the first state-run mixed-martial-arts fighters pension fund in the country.
Assembly Bill 1136, by Asm. Matt Haney (D, San Francisco) passed this week the State Senate on a 34-0 vote as well as the Assembly with a 76-0 vote. The bill was then sent to Gov. Gavin Newsom for his signature.
It’s not only MMA fighters. Sacramento launched CalSavers last year. CalSavers is required to receive the names of all employees. They are automatically signed up, and a portion of each paycheck is deducted from their pay unless they opt out. Most didn’t. David Teykaerts, the head of CalSavers was brought in from the California Public Employees Retirement System (CalPERS). Most weren’t. David Teykaerts was brought in as the head of CalSavers from the California Public Employees Retirement System. Critics call this a desperate move. Both agree that there is pressure on the fund to perform, given the hundreds of billions of dollars in unfunded future retirement debts, persistently low interest rates and a pandemic-ravaged economic.
CalPERS’ move to direct lending is a part of a wider rethinking by the pension fund of its money-making strategy. The board of the organization approved the change last month. The plan allows the fund to borrow as much as $80 billion in order to boost potential profits. This 11-figure amount has been met with skepticism by some financial experts, and a chorus of protests from certain political and financial commentariats. These people only care about pensions as assets to play with. You can weaponize pensions by grabbing them, making money with them, dedicating them to politically correct causes and then weaponizing them. This is what New York City is doing. New York City’s Pension Funds sued the Fox Corporation on Tuesday accusing it of neglecting its duties to shareholders. They also accused the company of opening itself up to lawsuits for defamation due to the constant broadcasting of falsehoods regarding the 2020 presidential election. You can send the retirees who’s pensions you are playing with to hell. It’s about leveraging maximum political power and using it as a weapon.
