nostr:nprofile1qqspcm9j9xtt42lfyx7dghytvgfm9k4sjmuguja9v7x585v45xrg25gpzamhxue69uhhyetvv9ujumn0wd68ytnzv9hxgtchk6v5x should catch a whiff of the degen 'sidepot' betting going on in the Oregon Public Employee Pension System.

"Between 2003 and 2008, more than 100 government employers around the state made such bets. Schools, cities, counties, community colleges, even the state itself, collectively issued more than $6 billion in pension obligation bonds, then forwarded the proceeds to the Oregon Treasury to invest alongside the pension system’s portfolio of stocks, bonds, real estate, private equity and other assets.

Employers were effectively gambling that the returns generated on the borrowed money would exceed their debt payments on the bonds, generating a surplus that PERS could use to offset employer’s pension costs."

https://www.oregonlive.com/politics/2024/11/spike-in-pension-costs-will-cost-oregon-public-employers-18b-in-the-next-biennium-it-will-be-more-intense-before-it-gets-less.html

#news

#ngmi