Heard that OMERS lost $8 billion last year. Bad enough that private sector pension plans are tanking but looks like public sector pension plans aren't doing all that great either. Who will fund the OMERS shortfall?
Oh that's an easy one rock... you and me and every other taxpayer in the province!Rockslinger said:Heard that OMERS lost $8 billion last year. Bad enough that private sector pension plans are tanking but looks like public sector pension plans aren't doing all that great either. Who will fund the OMERS shortfall?
But, but I am currently "between projects". People "between projects" don't pay a lot of taxes. You'll have to shoulder the burden for the two of us. Get a larger bike.Cycleguy007 said:... you and me and every other taxpayer in the province!
Mostly they will raise the contribution rates for employee's. But that does not make you unhappy so we will just blame them and say the taxpayers.Rockslinger said:Heard that OMERS lost $8 billion last year. Bad enough that private sector pension plans are tanking but looks like public sector pension plans aren't doing all that great either. Who will fund the OMERS shortfall?
Not bad considering that the TSX is down almost 50%.squash500 said:It shows you that even these financial gurus from OMERS can screw up just like the rest of us .
It seems that the best financial minds that money can buy lost 15.8% in managing the OMERS investment portfolio for the 2008 calendar year!
She who loses least, wins! I love it! And the winner is OMERS with a loss of 15%.euripides said:Not bad considering that the TSX is down almost 50%.
According to the news tonight, the best pension was down 10%.Rockslinger said:She who loses least, wins! I love it! And the winner is OMERS with a loss of 15%.
Rock - you seem to be making a habit of starting threads with a "sky is a falling" outlook. The OMERS fund is valued around $43.5 BILLION. Did you read any where that hey are going to be asking for any kind of assistance?Rockslinger said:Heard that OMERS lost $8 billion last year. Bad enough that private sector pension plans are tanking but looks like public sector pension plans aren't doing all that great either. Who will fund the OMERS shortfall?
Dow is not at a 12 year low. Dow is not at a 12 year low. Dow is not at a 12 year low. Hey, I think it is working. Dow is not at a 12 year low.dcbogey said:Rock - you seem to be making a habit of starting threads with a "sky is a falling" outlook.
Thanks for answering my question.Rockslinger said:Dow is not at a 12 year low. Dow is not at a 12 year low. Dow is not at a 12 year low. Hey, I think it is working. Dow is not at a 12 year low.
Humans have been on earth for 4 million years. What's 12?Rockslinger said:Dow is not at a 12 year low. Dow is not at a 12 year low. Dow is not at a 12 year low. Hey, I think it is working. Dow is not at a 12 year low.
To be honest, I'm not really concerned about 3,999,900 of those years.euripides said:Humans have been on earth for 4 million years. What's 12?
They worked, they paid their taxes - good for them. Too many people want to blame their advisor - and I'm NOT saying some of them shouldn't be blamed - when they themselves took little or no interest in what their financial situation was. Somewhere along the line caveat epmtor seems to have been lost.Rockslinger said:To be honest, I'm not really concerned about 3,999,900 of those years.
Seriously, I do feel sorry for those people who thought they were "prudently investing" in equities during the past 5-6 years to provide for their family's future (university tuition for the kids and all that). They worked, they paid taxes, they did not spend their money like drunken sailors, they "invested", they don't deserve what is happening to them.
Here is the logic. OMERS has an $8 billion pothole. Are they just going to leave that hole there? Or, will they top it up? If they top it up, from where will come the money? That is the $8 billion question.dcbogey said:BTW - still waiting to see where you read that OMERS has asked for help.
It's not how much OMERS is worth, it's whether they meet their financial obligation to cover the pensions and administration costs. That is a more important statistic.Rockslinger said:Here is the logic. OMERS has an $8 billion pothole. Are they just going to leave that hole there? Or, will they top it up? If they top it up, from where will come the money? That is the $8 billion question.
Do you have any idea what OMERS is valued at? This year has not been good, no doubt, but to think they will be coming, cap in hand, to the Ontario government in moronic.Rockslinger said:Here is the logic. OMERS has an $8 billion pothole. Are they just going to leave that hole there? Or, will they top it up? If they top it up, from where will come the money? That is the $8 billion question.
Heard they are valued at around $43billion.dcbogey said:Do you have any idea what OMERS is valued at? This year has not been good, no doubt, but to think they will be coming, cap in hand, to the Ontario government in moronic.