Guess who gets the pie? Denny will explain below.

By Denny Jordan

June 16, 2023

In a dream I just had…..

At the close of a meal at a large gathering, the people in charge (the Board) realize that they don’t have enough pie for dessert.

They address the group, and say “There is a problem. We don’t have enough pie. We have to make a decision.”

They say "excuse me" and go into executive session.

They return and say, “We could all take smaller pieces and everyone could have a little. But this small group of people over here (the investment staff) are really important to us."

"Because they are so important, they each get their piece of pie. We are also going to give them your pie. And we would like some of you to go to the store and buy 30% more pie, and give that to them as well. We think that is fair.”

I think something similar to this may have just happened.

Like I said, I don’t understand finances. I understand pie a little bit. ?????

Actives get to pay in more (14% instead of 10%). They also get to work longer (35 years instead of 30).

Retirees get to learn how to live without an annual COLA, and how to deal with inflation on a fixed income.

The investment staff gets a bunch of pie (six figure salaries, with six figure incentives, and what the heck, let’s increase that by 30%…….)

Please tell me I’m wrong.