Tag: normal cost
![wooden blocks showing a growing graph with an arrowing pointing up on a coral background](https://crr.bc.edu/wp-content/uploads/2018/08/wooden-blocks-showing-a-growing-graph-with-an-arrowing-pointing-up-on-a-coral-background.jpeg)
States and localities are paying less for benefits than in the past. In a recent editorial, The Wall Street Journal reports on state and local pension liabilities as a percentage of state GDP and concludes that politicians have made excessive pension promises. In fact, pension costs are going up, but the question is whether t…