Headline: Are state and local pension funds really in crisis?
Publication: The Brookings Institution
Article Date: Jul 15, 2019
“For many state and local government pension plans, the value of liabilities for future benefit payments exceed the value of plan assets. Some journalists, academics, and policymakers say this failure to fully prefund state and local pensions constitutes a crisis. This article focuses on a recent paper presenting alternative view. Instead of focusing on a full prefunding benchmark, they focus on the sustainability of pension plans—whether plans will run out of assets and need to borrow money or be bailed out to meet benefit obligations.” Read article…