Monday, December 01, 2008

TN Retirement Fund lost $6 billion...who ya gonna call?

Taxpayers, that's who. At the end of the video, State Treasurer says "it's never pleasant to come back and ask for more money." But after a $6 billion loss, taxpayers will indeed be asked.

HERE is the handout distributed during the meeting by TN Treasurer Dale Sims.

HERE is the latest annual report for TCRS, Tennessee Consolidated Annual Retirement System.

One note: when Treasurer Sims says "employers will have to come up with more money"...he is referring to Taxpayers.