State and Local Finance

The Burden of Public Pension Promises on State and Local Budgets

By and ·December 19, 2018
Brandeis University and Stanford University

The Issue:

Unfunded pension liabilities represent a significant challenge to the finances of many state and local governments. While no analysts dispute the general statement that pensions are underfunded in aggregate, there has been some discussion about how to estimate the magnitude of the gap. Moreover, however ...
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