Has anyone actually seen long-term numbers showing that the State Employees’ Retirement Plan (SERP) is really sustainable, given the current funding rates and demographic shifts? I’m not just talking about the official reports, which always seem to assume rosy returns and smooth sailing. Is it just me, or are we all expected to believe these large pension promises will work out, even as other states and cities face shortfalls or have raised retiree contributions?
Have any independent analyses (not from the fund itself or closely tied auditors) raised realistic concerns? And what’s the backup plan if investment returns fall short for a few years? It seems like the prevailing wisdom is to trust that “it’s all handled,” but I’m skeptical—is anyone else?
