Publications & Studies

Pension Reform

Unaccountable and Unaffordable 2018

Unfunded liabilities in public pension plans continue to loom over state governments nationwide. If net pension assets are determined using more realistic investment return assumptions, pension funding gaps are significantly wider than even the large sums reported in state financial documents. Unfunded liabilities of state-administered pension plans, using a proper, risk-free discount rate, now total over $5.96 trillion. The average …

Publications (page 1)