Saving America’s Public Pensions
US public pension schemes are increasingly facing funding gaps that will be difficult to close in today's capital market environment. But with innovative strategies designed to leverage these large investor's inherent advantages, "difficult" need not become synonymous with impossible.
SACRAMENTO – Much has been written in recent years about the plight of US public pensions. There are growing concerns about underfunded liabilities, rising implicit tax burdens, and broken promises to beneficiaries. These are not groundless fears. Many US public pensions are indeed facing severe financial pressures.