The bond industry is intelligent about insuring time. If you plan the 30 year rate be assured that your stock portfolio will fall short, two or three times.
Ventura’s policymakers have gotten an in-depth look at the city’s pension obligations, which are expected to grow substantially for the foreseeable future.
This year’s pension payment, projected to be around $19.7 million, is expected to reach $30.7 million, a growth of 56 percent, by 2024-25.
At least for 20 years, the bill will continue to climb, said Mary Beth Redding, a retirement consultant with Bartel Associates.
“In 30 years, you get to really sustainable rates,” she said. “That’s if things go more or less as expected.”
If there’s a sharp decline in market returns or some other situation, things could be far worse, she said.
Ventura is a stagnant county, residential prices have driven out industry. Thus, no business tax base and everything is residential property taxes. Shoppers can shop out of county on commute, the county is stuck.
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