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Local Massachusetts Governments Face Budget Buster: Unfunded Benefit Liabilities
The Martha's Vineyard Times Feb. 8, 2008
Excerpt: A recent change in accounting standards requires all Massachusetts government retirement plans to show this unfunded liability on their balance sheets, though there is currently no state mandate to put aside money for the future, and no way short of a special act of the state legislature to effectively pool money to earn higher interest rates.
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