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[LAUGHTER]. WE HAVE A QUESTION FROM A VIEWER
WE HAVE A QUESTION FROM A VIEWER PAYING ATTENTION TO THE FACEBOOK
PAYING ATTENTION TO THE FACEBOOK PAGE.
PAGE. I WAS STANDING BY THE REFERENCE
I WAS STANDING BY THE REFERENCE TO FACSIMILES.
TO FACSIMILES. BUT WE ALSO HAVE A FACEBOOK
BUT WE ALSO HAVE A FACEBOOK PAGE.
PAGE. I WANT TO REMIND PEOPLE WE HAVE
I WANT TO REMIND PEOPLE WE HAVE A FACEBOOK PAGE AND WE CAN BE
A FACEBOOK PAGE AND WE CAN BE REACHED THERE AS WELL.
REACHED THERE AS WELL. OUR VIEWER ON THE FACEBOOK PAGE
OUR VIEWER ON THE FACEBOOK PAGE AS A QUESTION ABOUT THE PENSION
AS A QUESTION ABOUT THE PENSION PLANS AND PARTICULARLY STATE
PLANS AND PARTICULARLY STATE PENSION PLANS WANTS TO KNOW IF
PENSION PLANS WANTS TO KNOW IF THERE'S GOING TO BE ANY
THERE'S GOING TO BE ANY DISCUSSION ABOUT THAT.
DISCUSSION ABOUT THAT. THEY THINK THE ASSUMED RATE OF
THEY THINK THE ASSUMED RATE OF RETURN IS TOO HIGH AND IS
RETURN IS TOO HIGH AND IS CONCERNED THE PLANS ARE
CONCERNED THE PLANS ARE UNDERFUNDED AND WHAT ARE WE
UNDERFUNDED AND WHAT ARE WE GOING TO DO ABOUT THAT PROBLEM?
GOING TO DO ABOUT THAT PROBLEM? IS THERE GOING TO BE A
IS THERE GOING TO BE A DISCUSSION ABOUT PENSION PLANS
DISCUSSION ABOUT PENSION PLANS IN THIS SHORT SESSION?
IN THIS SHORT SESSION? WE HAD SOME DISCUSSION LAST
WE HAD SOME DISCUSSION LAST YEAR.
YEAR. WHAT'S THE PROGRAM?
WHAT'S THE PROGRAM? ANYBODY KNOW?
ANYBODY KNOW? >> OUR PENSION PLANS ARE FACING
>> OUR PENSION PLANS ARE FACING SOME CHALLENGES AND IN MY
SOME CHALLENGES AND IN MY OPINION THE RATE OF RETURN HAS
OPINION THE RATE OF RETURN HAS BEEN SET TOO HIGH, AND IT'S
BEEN SET TOO HIGH, AND IT'S GOING TO BE BUMPED UP, I THINK,
GOING TO BE BUMPED UP, I THINK, A LITTLE I IMPRUDENDLY.
A LITTLE I IMPRUDENDLY. THERE WILL BE AN OPPORTUNITY TO
THERE WILL BE AN OPPORTUNITY TO HAVE THESE DISCUSSIONS AND
HAVE THESE DISCUSSIONS AND WHETHER OR NOT WE ARE BEING
WHETHER OR NOT WE ARE BEING REALISTIC ABOUT THE RATE OF
REALISTIC ABOUT THE RATE OF RETURN.
RETURN. IT DID A SIGNIFICANT CATCH-UP ON
IT DID A SIGNIFICANT CATCH-UP ON PENSIONS, BUT WE ARE STILL AT A
PENSIONS, BUT WE ARE STILL AT A GAP.
GAP. I WANT TO SAY THE GAP IS 17%,
I WANT TO SAY THE GAP IS 17%, BUT I DON'T WANT TO BE QUOTED ON
BUT I DON'T WANT TO BE QUOTED ON THAT NUMBER.
THAT NUMBER. IT'S BEEN A WHILE SINCE I HAVE
IT'S BEEN A WHILE SINCE I HAVE LOOKED.
LOOKED. >> ANYBODY ELSE WANT TO TALK
>> ANYBODY ELSE WANT TO TALK ABOUT THAT TOPIC?
ABOUT THAT TOPIC? >> I'M NOT RUNNING FOR THE
>> I'M NOT RUNNING FOR THE COMMISSION.
COMMISSION. BUT I THINK WE SHOULD KEEP THE
BUT I THINK WE SHOULD KEEP THE PROMISES THAT WE MADE TO PEOPLE,
PROMISES THAT WE MADE TO PEOPLE, ESPECIALLY ONCE THE STATE IS IN
ESPECIALLY ONCE THE STATE IS IN CHARGE, SOME OF THE PEOPLE WORK
CHARGE, SOME OF THE PEOPLE WORK AT MY TREATMENT CENTER IN MY
AT MY TREATMENT CENTER IN MY DISTRICT, THEY WORK FOR PRETTY
DISTRICT, THEY WORK FOR PRETTY MODEST WAGES AND KIND OF
MODEST WAGES AND KIND OF COUNTING ON THIS MODEST PENSION
COUNTING ON THIS MODEST PENSION WHICH SEEMS LIKE A LOT TO THEM,
WHICH SEEMS LIKE A LOT TO THEM, WHICH WE NEED TO PROTECT.
WHICH WE NEED TO PROTECT. THE HIGHER YOU PRESUME THE RATE
THE HIGHER YOU PRESUME THE RATE OF RETURN WILL BE THE MORE THE
OF RETURN WILL BE THE MORE THE PENSION SEEMS.
PENSION SEEMS. WE ARE GOOD.
WE ARE GOOD. IT'S IMPORTANT TO BE REALISTIC
IT'S IMPORTANT TO BE REALISTIC BUT I THINK IT'S IMPORTANT AGAIN
BUT I THINK IT'S IMPORTANT AGAIN TO HAVE A GOOD DIALOGUE WHERE WE
TO HAVE A GOOD DIALOGUE WHERE WE APPRECIATE THE VALUES OF THE
APPRECIATE THE VALUES OF THE EMPLOYEES WE HAVE BEEN PAYING IN
EMPLOYEES WE HAVE BEEN PAYING IN OUR STATE AND WHAT THEY DO AND
OUR STATE AND WHAT THEY DO AND MAKE PROMISES THAT ARE SENSIBLE
MAKE PROMISES THAT ARE SENSIBLE BUT THAT WE WILL KEEP THEM.
BUT THAT WE WILL KEEP THEM. >> YOU HAVE TO