Public pensions

Excessive payments to 24 employees exceeded $470,000 between 2005 and 2018, according to the Massachusetts inspector general's office.

Mayor Jorge Elorza’s $850 million POB proposal sits stalled in the state legislature while state General Treasurer Seth Magaziner called the legislation too risky.

In the bill the governor signed, lawmakers will not approve a plan of adjustment with cuts to pensions, which the current proposed plan includes.

Like the city's pension funding revisions, the park district's plan ramps up to actuarial payments but it's alone in aiming for a 100% funding target.

Kentucky has one of the poorest funded pension systems among all U.S. states.

A bill would authorize its capital city to issue up to $850 million in pension obligation bonds if it can get a true interest cost of 3.5% or less.

Low interest rates, looming CalPERS amortization changes and pandemic-related budget hits were cited as factors in the record year for California POB deals.

In what one critic called a "riverboat gamble," Mayor Jorge Elorza in Rhode Island's capital city seeks $704 million to pump into a severely unfunded system.

The Harvey firefighters pension fund argues that the troubled city's share of American Rescue Plan funds should be subject to an intercept of state funds.

While traditional defined-benefit pension plans remain the prevailing model, at least 19 states have hybrids.

Regina Egea, president of the Garden State Initiative, analyzes New Jersey's fiscal landscape, including the proposed state budget, unfunded pension liability and deficit borrowing. Paul Burton hosts. (20 minutes)

Moody's says that the pension system will likely run out of money in fiscal year 2024.

The commonwealth's largest public pension fund acknowledged an erroneous investment return that was just high enough to avoid triggering a teacher risk-sharing provision.

Illinois is among the states that critics say have downplayed their unfunded long-term debts and should be forced by new GASB rules to become more transparent.

Moody's Investors Service notes that the new two-tier pension system will not immediately decrease Kentucky's high unfunded pension liabilities.

The cost of guaranteeing 3% cost-of-living adjustments to more retired Chicago firefighters is estimated at $18 million to $30 million annually.

Top lawmakers bought time amid pressure from unions and progressive legislators.

A bill backed by the Municipal Employees’ Annuity and Benefit Fund underscores the fiscal strains created by Chicago's pension underfunding.

Paul Gray, co-founder of IronHold Capital, links the unfunded liability problem to bad public policy decisions and bad hedge-fund actors. Paul Burton hosts (13 minutes).

At issue is at least $340 million, the cities claim they are not liable for. The suit could impact the viability of the proposed plan of adjustment, but sources say the suit is unlikely to succeed.