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The multiplying risks of public employee pensions to state and local government budgets

Author

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  • Andrew G. Biggs

    (American Enterprise Institute)

Abstract

State and local government pensions tout their ability to couple generous, guaranteed benefits for public employees with low and stable contributions from taxpayers. In reality, the risks that public pensions pose to taxpayers and government budgets have multiplied by a factor of 10 over the past four decades. While elected officials - including a number of Democratic mayors - are pushing for reforms, even they may not be aware of how much pension risk government budgets are truly bearing.

Suggested Citation

  • Andrew G. Biggs, 2013. "The multiplying risks of public employee pensions to state and local government budgets," AEI Economic Perspectives, American Enterprise Institute, December.
    • Handle: RePEc:aei:journl:y:2013:id:2380
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    File URL: http://www.aei.org/publication/the-multiplying-risks-of-public-employee-pensions-to-state-and-local-government-budgets
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    Cited by:

    1. Andrew G. Biggs, 2015. "The state of public pension funding: Are government employee plans back on track?," AEI Economic Perspectives, American Enterprise Institute, September.

    More about this item

    Keywords

    Retirement; pensions; Public Pensions; AEI Economic Perspectives; Policy Papers;
    All these keywords.

    JEL classification:

    • H - Public Economics

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