Actuarial, examine then, the assumption changes are indicated by the toeal bars, ad then, the impact of contributions on your unfunded liability are the the red slivers. So basically, its to give a historical perspective, back in 2007, the plan actually had a surplus of about 1. 4 billion, and over the course of the last ten years, unfunded has increased by about 5 billion for a net unfunded liability as of 2017 of 3. 5 billion. Now there are three main fa factors for this increase. The first is the 2. 3 billion for assumption changes, and you can see that in 2010 and 2015 we had the dependenciy graphic experience studies, and those 2 eal bars wiare based basically, people are living longer, so youre paying benefits longer. It drives up your liabilities, and also, theyre retiring earlier than anticipated, you have shorter time to fund your benefits, and then, you also have to pay for them for a longer period of time. And then, the second driver is the investment losses, about 2 billion
Number 18 . Seeing none, we will close Public Comment. Just just the high points. Okay. Thank you, commissioners. Good evening. Before you are the proposed revisions to the sfdcp investment policy statement. We have hired cowan as our [ inaudible ] have made some changes to it. These changes have been discussed with the Deferred Compensation Committee at length, and ive provided some context on the industrys best practices and since then, the Deferred Compensation Committee then voted to forward the ips with the changes to the board with their approval, so i would like to now ask the board for your approval on the changes to the ips. [ inaudible ] to item 17 first, which is the deferred Comp Committee report. We did spend a lot of time reviewing this on the committee, and so today, its coming to you for because we felt with the revisions and being in compliance with industry best practices, our best practice guidelines, looking at changing regulations, this is the best time to bring it
The dow is the story today bet than 1 gain the russell, small caps trailing a little bit bob pisani on the floor with more were reversing that trend. We used to sell off in the middle of the day, but friday we diplomat and today we are holding onto our highs its very important. Three trends ive seen thats happened in the last two days. Number one, the healing continues. S p regained 20 of the losses were finally seeing new highs appear and familiar names are on that list. Finally, the Leadership Group since the bottom is the Leadership Group getting us into this, and that is cyclical stocks look whats leading today. Boeing, 3m, apple, cisco, these are all cyclical names lacker eds, coke, mcdonalds, johnson johnson, General Electric not doing too much overall s p new highs, old faces weve seen time and time again on the list amazon, netflix, adobe, hewlettpackard, jpmorgan chase. We continue to see the rally move forward not going back to that idea of selling off late in the day. Well s
New furniture. Dream to in europe, stocks open higher in the wall street rally. Jerome powell testimony this morning. Lauren japanese stocks gaining upper 1 and falling over 1 . Tree into breaking overnight comcast is with 31 billion with the rival bid from 21st century fox. The details of that deal. Fbn am starts right now. Lauren 5 01 a. M. In new york february 27th and lauren simonetti. Lea i am Lea Gabrielle been for cheryl casone. Lauren a big day, said dave. Jerome powell and the hot seat on capitol hill as he makes his first Public Comments about the economy and inflation is the Federal Reserve chairman. Investors listening closely for any clues on whether the fed will raise Interest Rates more aggressively than the expected three times this year following the taxcut plan and also budget spending. Stocks rallied sharply yesterday ahead of day one of powells testimony this morning. Basically what we know is jay powell had no reason to push a more aggressive stance right now and i
Been near 0 and feds been printing money like never before jay powell has to unweekend that without damaging the economy. Lets see how that Opening Statement is being received on the stock market. Fairly well, dow industrials and the s p 500 and the nasdaq they will all open ever so slielgtly lower. Remember, this follows two day of gigantic tbains. Theres other news, fedex will not join the boycott nra movement that is intimidated several other Big Companies and the state of georgia threatens to take away a sales tax benefit from delta if that airline continues its nra boycott. The state to play is this, boycott that will be hashtagged boycott nra as politicized business. And it is trying to silence anyone who supports Second Amendment rights. And then theres the nfl. Commissioner Roger Goodell will reportedly demand 2 million from cowboys oiner jerry jones for his activities during last seasons anthem protests. That is not over. But Varney Company were about to begin. Stay there plea