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Reforms, Reports Improve Snapshot of States’ Public Pension Outlooks

Ohio, New Hampshire and Tennessee appear to have significantly improved their public pension funding in Fiscal Year 2013, as measured by Truth In Accounting’s (TIA) metrics. However, it’s important to determine how and why these improvements occurred. Did they contribute more money to their pension funds? Did they adjust benefits, decreasing their liability? Is there an alternative, more arcane reason for the measured improvements? In Ohio, the underlying answer is quite simple: lawmakers...

Auditor General Report Presents Novel Ideas for Pa. Pension Reform

If one mines down into Pennsylvania Auditor General Eugene DePasquale’s recent pension report, one can find some gems hidden among the recommendations that I believe risk the creation of a too-big-to-fail “financial super-fund site.” However, with a few minor tweaks, DePasquale’s proposal could be turned into a robust model for pension reform. It would rely on outright bribery, but it might be just crazy enough to work.  In DePasquale’s proposal, the two “lynchpin” recommendations are the...

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