What happened in court today

[corktownyuppie]

Well, Schuette is the Attorney General, which means he represents the State, officially. But what position will the State take?

a) no support for pension shortfalls;
b) some support for pension shortfalls; or
c) 100% support [[guarantee) for pension shortfalls.

I'm guessing it's B.

Meddle's point on lawyers is well-taken. 1000's of $/hr in that courtroom today.

I agree with that as well. But I'm preparing my clients to prepare for it to get ugly in negotiations. Sometimes the only way to have someone accept 80% is by arguing that he only deserves 50%.

By the way, there was a photo of a firefighter protesting outside the courthouse with a sign saying "Pension 96% Funded". Is it fair to presume that he had no idea what he was protesting about?

[BankruptcyGuy]

By the way, there was a photo of a firefighter protesting outside the courthouse with a sign saying "Pension 96% Funded". Is it fair to presume that he had no idea what he was protesting about?

No, that is what the DPFPS actuarial calculation shows. The EM is using a more conservative [[realistic?) rate of return, and shows less funding.

DGRS is significantly less funded than DPFPS, because the former issued more of the "13th check" and gave a higher level of benefits.