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Public Employee Pension Systems Under-Funded by Over $2 Trillion and Unfunded Health-Care Benefits for Retired Public Employees Are More Than $1 Trillion
Bloomberg Link to more items from this source
Jan. 21, 2010
Excerpt: The starting point for addressing the long-term policy challenge is recognizing the math. Government accounting standards make a series of benign assumptions about the future and ignore the actual market values of pension investment portfolios. By those standards, public pension plans are 88 percent funded. Unfortunately, government accounting rules create economic fictions.

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