Tag: public pension finances
This series quantifies the “legacy debt” (unfunded liabilities from long ago) for several major state-administered retirement systems and offers a new approach to better manage these liabilities. Connecticut CT State Employees Retirement System CT Teachers’ Retirement System Illinois IL State Employees Retirement System IL State Universities Retirement System IL Teachers’ Retirement System Massachusetts…
Legacy debt — leftover costs from the startup of retirement programs — is important not only when considering policy changes for Social Security but also for state and local pension plans. In the case of Social Security, the required payroll tax rate to fund promised benefits is high because we gave away the trust fund…
