- If the current 7% expected rate of return and discount rate used by the New York City pension system is used and 2% inflation is assumed, the present value of the future pension benefits would be about $850K.
- Comparison of the amount of the settlement paid by the city to the amount of present value of that particular police officer’s pension, suggested that the city actually came out ahead since the gain to the city when police officer was mostly stripped of his pension benefits for his role in the choke-hold death, exceeded the multimillion settlement paid to family of the victim.
- These were the repeal of the 18th Amendment, which ended prohibition in 1933, the expansion of casino gambling starting with the approval of casinos in Atlantic City, New Jersey in 1976 and the legalization of recreational cannabis by Colorado in 2014.
- The expansion of casino gambling outside of Nevada, was done on a state by state basis, as is the case today with the state legalization of cannabis.
- Historic data regarding gambling expenditures as additional states legalized new forms of gambling can give an idea of what can be expected from cannabis.
- However, companies established in states where only medical cannabis is legal, may be in a good position to profit if those states were to legalize recreational cannabis, which is also referred to as adult-use cannabis.
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