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The state of public pension funding: Are government employee plans back on track?

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  • Andrew G. Biggs

    (American Enterprise Institute)

Abstract

The public-sector pension industry is claiming a comeback from losses suffered during the Great Recession. But this recovery is greatly exaggerated: even years past the end of the recession, most pension sponsors are unable to make their full annual contributions, and pensions are taking as much investment risk as ever. The first step to effective pension reforms is an honest, accurate view of the costs and risks that public plans impose on government budgets and taxpayers.

Suggested Citation

  • Andrew G. Biggs, 2015. "The state of public pension funding: Are government employee plans back on track?," AEI Economic Perspectives, American Enterprise Institute, September.
    • Handle: RePEc:aei:journl:y:2015:id:855956
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    References listed on IDEAS

    as
    1. Brown, Jeffrey R. & Pennacchi, George G., 2016. "Discounting pension liabilities: funding versus value," Journal of Pension Economics and Finance, Cambridge University Press, vol. 15(3), pages 254-284, July.
    2. repec:aei:rpaper:39741 is not listed on IDEAS
    3. Andrew G. Biggs, 2013. "The multiplying risks of public employee pensions to state and local government budgets," AEI Economic Perspectives, American Enterprise Institute, December.
    4. Congressional Budget Office, 2011. "The Underfunding of State and Local Pension Plans," Reports 22042, Congressional Budget Office.
    5. Congressional Budget Office, 2011. "The Underfunding of State and Local Pension Plans," Reports 22042, Congressional Budget Office.
    Full references (including those not matched with items on IDEAS)

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