Archives: Cory Eucalitto / Articles
Archives: Cory Eucalitto / Articles
-
Pew’s Latest Pension Report Understates Unfunded Liabilities, But Still Shows Growing Problem
"The Fiscal Health of State Pension Funds: Funding Gap Continues to Grow," is the Pew Center on the States' latest annual update of state unfunded liabilities.
-
The Shortfalls of Oklahoma’s Defined Benefit Public Pension Plans
Across the country, unfunded public pension liabilities are the single largest threat to the stability and solvency of state and municipal governments.
-
Moody’s Report Shows States’ Failure to Recognize Scope of Broken Promises
Last year, Moody's Investors Services announced it would begin adjusting officially reported unfunded public pension liabilities before considering their impact on state and local bond ratings.
-
State Budget Solutions’ Fourth Annual State Debt Report
State Budget Solutions' (SBS) fourth annual State Debt Study reveals that state governments face a combined $5.1 trillion in debt.
-
In Face of Chicago Downgrade, State Legislature Looks to More Pension Borrowing
When Fitch Ratings downgraded the city of Chicago's bond ratings at the end of last week, it seemed like just another step on the road to financial disaster for the Windy City.
-
Can Detroit Touch Pensions?
Municipal bankruptcy and public pension problems go hand in hand. Different cities have taken varying approaches to public pension.
-
State Budget Solutions Responds to Connecticut Office of Policy and Management
On September 25, State Budget Solutions received an e-mail from the Connecticut Office of Policy and Management regarding steps taken to reduce the state's unfunded pension liability, as it was highlighted in "Promises Made, Promises Broken — The Betrayal of Pensioners and Taxpayers."
-
Promises Made, Promises Broken – The Betrayal of Pensioners and Taxpayers
Comprehensive research into the funded status of state level defined benefit public pension plans reveals that public employee retirement promises are underfunded by $4.1 trillion. Combined, state public pension plans…
-
GASB’s Ineffective Public Pension Reporting Standards Set to Take Effect
Public pension plans across the United States face a remarkable funding crisis. A study by economist Andrew Biggs and published by State Budget Solutions found that the average public pension plan was just 41 percent funded.
-
Municipal Bankruptcy: An Overview for Local Officials
Cities and other municipalities falling on hard financial times is nothing new, but it is rare that any such entity files for bankruptcy as a way of addressing its massive debts.
-
How to Prevent Future Pension Crises
State and local governments face an unprecedented crisis as a result of inadequately funded public pensions, as evidenced by a recent State Budget Solutions study that found on average, public plans across the country are only 41 percent funded.
-
State Budget Crisis Task Force Outlines Extent of Illinois’ Budget Crisis
The State Budget Crisis Task Force, a group chaired by former New York Lieutenant Governor Richard Ravitch and former Federal Reserve Board Chair Paul Volcker, recently released a report focused on the critical state of Illinois' finances.
-
State Budget Solutions’ Third Annual State Debt Report Shows Total State Debt Over $4 Trillion
For the third consecutive year, State Budget Solutions examined state debt and calculated the total amount of debt that each state faces. This year's report shows that aggregate debt across the 50 states amounted to $4.17 trillion.
-
State Spending Transparency Portals Vary in Their Approaches and Results
In a way, the very idea of state budget reform presumes some basic level of government transparency. Yet the amount of information related to the spending of tax dollars provided by each of the state governments varies wildly.
-
The Difficulty of Accessing Clear State Budget Data
One of the largest obstacles to covering state budget issues is often state government itself. Accessing simple budget data such as revenue and expenditure totals can create a headache harsh enough to discourage even the most determined citizen activist.