Tag: DB pension
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Retirement for workers in state, county and municipal government fits a certain picture: a regular monthly pension payment awaits them. But there are important exceptions, which a recent study has filled in. A small minority of public sector workers get some or all of their retirement benefits in the form of a one-time cash payment…
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The brief’s key findings are: The analysis looks at the costs of pensions, OPEBs, and debt service for all states and the largest counties and cities. Costs assume a 6-percent discount rate and an adequate amortization schedule, and are compared to own-source revenue. The good news is that the total cost burden appears under control in…