They contend that raising the required "payout" would exhaust their assets, thereby violating some donors' intentions of establishing a foundation in perpetuity.
As recently as 2004, the city hired an actuary, who reported that "the plan is projected to exhaust the assets around 2009, at which time benefits will need to be paid directly from the city's annual finances".
Exhaust other assets first; delay using the IRA until the government forces you to start taking payouts (the Apr. 1 after the year you turn 701/2).
Having exhausted their assets, these vulnerable households cannot afford to migrate internationally in search of new skills or higher wages.
Puerto Rico's pension funds have almost exhausted their assets, and all retirees are being shifted to a pay-as-you-go system, in which the central government will pay pensions directly from its budget.
Following a shock, these households are likely to use fewer coping options other than exhausting their assets (Paul and Routray 2011).
While no one likes writing a check with a lot of zeroes in it, without a policy, the alternative is that you'll pay out of pocket until you've nearly exhausted your assets and can qualify for Medicaid.
Those pilot programs, which under existing federal law cannot be expanded to other states, assure participants that they will not need to exhaust all their assets before qualifying for Medicaid in old age.
Many arrived five or six years ago and have exhausted all their assets, so survive on casual work and basic government assistance.
Mr Rauh calculates that seven states will have exhausted their pension assets by 2020 even if they make a return of 8%, a common assumption that looks wildly optimistic.
The old G.M., which remained in bankruptcy protection as it liquidated closed plants and other discarded assets, exhausted $13.1 billion in cash in the second half of 2008.
