Cantrell sees trouble ahead for state pension funds

Matthew Cantrell, the Libertarian candidate for State Auditor has not gotten a lot of media attention, this article written by John Michael Spinelli, (link) is a recommended read for that reason and also because the topic of pensions and pension funds has been one we’ve discussed here in the past. Part of the recommended article:

CGE: If you were treasurer now, what policy or program changes would you make and why?

CANTRELL: I would be honest with the citizens of Ohio regarding the true magnitude of our fiscal crisis. I believe the unfunded liabilities of state pension funds are not being accounted for properly, as California is struggling with now. Many of the specific changes will require legislative support. I propose more conservative actuarial assumptions in the state pension funds, such as reducing the expected rate of return from the current 8% level. I also support ending the GrowNOW and AgLink programs, which claim to create jobs, but only subsidize businesses and farms at the expense of taxpayers.

I’ve been following Spinelli’s series on third party candidates, you might want to as well.