"For decades, state and local government employees across the U.S. knew that when they turned 65, they could safely retire without becoming destitute. Years of public service had earned these workers the promised pillow of a pension to pad their purses as they eased into their golden years.
"These days, however, receiving a fully-funded pension upon retirement isn’t necessarily a guarantee.
"In fact, it's tough to overstate just how underfunded public pensions in the United States are. Last year, Moody's Investors Service estimated that public pensions were underfunded by $4.4 trillion, according to an article from The Wharton School at the University of Pennsylvania."
A recent article in American City & County examined the issue of underfunded government pensions, including some ways to address this concern.
To access the complete article, please visit:
American City and County: Pension tension (September 2019)
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