Public pensions

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.

The governor wants the first full actuarial contribution in 25 years, spurring discussion about what else one of the nation's lowest-rated states should do.

New York State’s public sector entities have more than $300 billion of unfunded other post-employment benefit liabilities, which accounts for a quarter of the nation’s total of $1.2 trillion of other post-employment benefit debt.

Gov. J.B. Pritzker is still mulling action on legislation Mayor Lori Lightfoot says will add to the city's considerable fiscal burdens.

"We need to make realistic assumptions regarding our ability to achieve expected returns in the future," said North Carolina State Treasurer Dale Folwell.

The city's newest budget forecast says revenues in the current fiscal year will fall short of projections by $86 million.

The pension system is in an “accelerating death spiral,” he said. In contrast, he offered good news about the territory's water and power authority.

The Illinois legislature passed a pension benefit enhancement for a group of Chicago firefighters. If Gov. J.B. Pritzker signs it, local taxpayers will pay up.

With interest rates at historic lows and stock market returns at record highs, Tucson sees a ripe opportunity to issue pension debt.

State Treasurer Dale Folwell said his office was rewarded for staying the course on a decades-long conservative management strategy.

Florida's triple-A ratings face an ongoing vulnerability because of the fiscal and economic impacts of COVID-19, its annual debt report warns.

Senate Majority Leader Mitch McConnell suggested state and local governments would use stimulus to shore up pension plans.

Joe Torsella still advised that such a move to backstop the commonwealth's two largest public retirement funds is no panacea.

Fiscal 2020 added another $3.8 billion to the state's unfunded pension liabilities, according to a new state report.