"Reason's '2025 Pension Solvency and Performance Report' characterizes public pensions as operating continuously on a precipice, one market downturn from falling into an abyss and sending their sponsoring governments to fiscal ruin. Reason relies on specious comparisons of public pension plans and selective data while ignoring industry standards and practices, to present a pessimistic image of public pensions that are in financial and actuarial peril and investing at an inappropriately high level of risk."  MORE >>