Commentary: GOP's Public Pension Transparency Act Starts on a False Premise

APR 26, 2013 11:31am ET

Rep. Gwen Moore thinks HR 1628, the Public Pension Transparency Act introduced last week by Reps. Devin Nunes, Paul Ryan and Darrell Issa, proceeds from a false premise, which causes the bill to introduce opacity rather than transparency of disclosure into the market, and intrudes on state sovereignty and policy...

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Comments (1)
Rep Gwen Moore reveals her own bias and false premise with her critique rather than illuminating flaws in this necessary reform. Her bias in favor of unsustainable retirement benefits along with her lack of knowledge on municipal accounting rules are the greatest revelations of her commentary. The most serious threat to municipal (and state) credit are the pension and medical benefit promises made by them. The fact is GASB allows considerable flexibility as to how post retirement benefits are presented and calculated. Legislation that would improve such disclosure and help increase accountability on the part of municipal politicians is sadly, sorely needed if we are to avoid more municipal defaults.
Posted by mdwjr | Tuesday, April 30 2013 at 9:29AM ET
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