Tag: Pensions
Tag: Pensions
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ALEC in The Center Square: States owe nearly a trillion dollars in liabilities on top of unfunded pensions
THE CENTER SQUARE By: Casey Harper July 7, 2022 Unfunded state debt for things like retired public employees health care coverage continues to balloon to an unsustainable…
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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…
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The Williams Report: January 2019
BUDGET Arizona: Gov. Ducey’s Budget Proposal Adds to Arizona Education Spending Gov. Doug Ducey’s first budget since re-election contains a substantial increase in education spending. Arizona can…
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The Williams Report: December 2018
BUDGET Illinois: State Owes Private Firms more than $327 Million in Late Interest Payment Penalties After paying $275 million in late interest payment fees, Illinois still owes third-party financers…
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The Williams Report: November 2018, Part 2
BUDGET Connecticut: General Assembly Democrats May Need GOP Help to Pass Next CT Budget Connecticut is currently projected to have a $2 billion deficit next budget cycle. The “volatility cap,”…
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The Williams Report: November 2018
BUDGET Indiana: Hoosiers Will Vote “Yes” or “No” on Balanced Budget Amendment Indiana voters will decide this November whether or not state legislators must pass a balanced…
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Invasion of the Budget Snatchers: The Looming State Financial Crisis
Like the beginning of a horror movie, the end of a budget process is often bright with people smiling, shaking hands, and congratulating themselves on passing a balanced budget. But…
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The Williams Report: October 2018, Part 2
BUDGET: Arkansas: Hearings on State’s Budget to Get Going As budget hearings begin, Arkansas legislators will learn the details of programmatic and state agency funding needs, and what Governor…
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The Williams Report: October 2018
BUDGET: Alaska: New State Budget Report Predicts State Savings Accounts Will Be Empty by 2021 Alaska’s persistent funding crisis continues as the state is forced to underfund entitlements and…
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The Williams Report, September 2018
Budget: Connecticut: Small Surplus Projected with Current Budget Two months into Connecticut’s fiscal year, the state’s budget chief is projecting a nearly $138 million operating surplus, driven…
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The Pension Crisis is not a Black Swan Event
Close your eyes and envision a swan. What color is it? Most likely, it is a white swan. Because most of us go our entire lives coming across only white…
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State Bonded Obligations, 2018
States issue a diverse array of bonded obligations, with a range of obligation strength, revenue sources, debt service schedules, and other factors. This study collects and analyzes the bonded obligations…
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Chicago Pension Obligation Bonds, a Strategy or Gamble?
Chicago Mayor Rahm Emanuel’s administration is exploring the possibility of issuing billions of dollars of pension obligation bonds and investing the proceeds in order to reduce the city’s $28…
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Other Post-Employment Benefit Liabilities, 2017
Other Post-Employment Benefit Liabilities, 2017 surveys the more than 100 state-administered post-employment benefit plans, such as health insurance, Medicare advantage, life insurance, and other non-pension benefits. Controlling for differences in…
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Converting Pension Plans from Defined Benefit (DB) to Defined Contribution (DC): The Myths and the Messaging Part 3
The information monopoly possessed by Defined Benefit (DB) plan actuaries creates an enormous information imbalance in the discussion over how to transition from a DB to a Defined Contribution (DC)…
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Pensions, Incentives and Mismanagement
The most recent edition of Unaccountable, Unaffordable, the ALEC Center for State Fiscal Reform uncovered a disturbing trend in pension management. States that are…
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Unaccountable, Unaffordable 2017
Unaffordable and Unaccountable 2017 surveys the more than 280 state-administered public pension plans, detailing their assets and liabilities. The unfunded liabilities (the amount by which the present value of liabilities…
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Spooky, Scary Pension Fund Skeletons
If states want to keep their pension plans healthy, and avoid a virtual apocalypse of the pension undead, reform is indispensable.
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Congress Considers a Pension Bailout
If the federal government truly wants to mend the pension funds of American miners, ending the Obama administration’s war on coal would be a good start.
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Promises Made, Promises Broken 2014: Unfunded Liabilities Hit $4.7 Trillion
State Budget Solutions' latest research reveals that state public pension plans are underfunded by $4.7 trillion, up from $4.1 trillion in 2013.