Tag: unaccountable and unaffordable
Tag: unaccountable and unaffordable
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States Remain at Risk Due to Unfunded Pension Liabilities
FOR IMMEDIATE RELEASE Contact: Alexis Jarrett ajarrett@alec.org States Remain at Risk Due to Unfunded Pension Liabilities Unfunded pension liabilities exceed $5.8 trillion across…
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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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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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Converting from Defined Benefit to Defined Contribution: The “Free” Money Pays Down Unfunded Liabilities and Pays Dividends to Taxpayers
Implementing a DC system delivers immediate payroll savings for the new plan’s participants. Using these savings to shore up the unfunded liabilities from the preexisting DB plans will ensure that past promises made are kept. At the same time, the new DC plan participants rest assured that each and every paycheck, funds are being deposited into an account belonging to them. Taxpayers win as the escalation in retirement overhead costs level off and eventually realize the full benefit of the savings.
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Trouble in Paradise: Hawaii Governor Ige Acknowledges Livability Concerns
The governor took note of several pressing concerns—energy, affordable housing, education, and income growth. However, many of his solutions threaten to aggravate the underlying problems.
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Pension Obligation Bonds Could Unravel Pension Reform Victory
Issuance of POBs will negate the recent pension reform victory by shifting current pension costs to future taxpayers and gambling the commonwealth’s fiscal health on risky arbitrage.