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GASB Standards Assume Away Reality
Public Sector Inc. Link to more items from this source
July 24, 2012

"The average public pension plan is only 41 percent funded, when calculated with the same financial methods used in the private sector, according to a recent report ... Using a fair market valuation approach that captures the value of pension benefits guaranteed to be paid as opposed to using unrealistic Government Accounting Standards Board assumptions based on the highly unlikely expected returns on stocks, private equity, or hedge funds, Biggs finds that public pensions 'face unfunded liabilities of approximately $4.6 trillion dollars.'"

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