The impact of public pensions on state and local budgets

Munnell, Alicia Haydock, Jean-Pierre Aubry, and Laura Quinby. “The impact of public pensions on state and local budgets”. State and Local Pension Plans 13, Chestnut Hill, Mass.: Center for Retirement Research at Boston College, October 2010. http://hdl.handle.net/2345/bc-ir:104253.
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Abstract

The brief's key findings are: (1) Currently, state and local pension contributions equal 3.8 percent of total budgets. (2) To get back on a path to full funding, sponsors will need to contribute: (2a) 5.0 percent of budgets if liabilities are discounted by 8 percent; or (2b) 9.1 percent of budgets if liabilities are discounted at 5 percent. (3) states with seriously underfunded plans and/or generous benefits – like CA, IL, and NJ – will need to contribute significantly more.

Title
The impact of public pensions on state and local budgets
Author
Munnell, Alicia Haydock
Aubry, Jean-Pierre
Quinby, Laura
School
Carroll School of Management
Discipline
Finance
Center
Center for Retirement Research
Genre
report
Date Issued
October 2010
Publisher
Center for Retirement Research at Boston College
Series Title
State and Local Pension Plans
Series Number
13
Version Identification
Version of record.
Persistent Link
http://hdl.handle.net/2345/bc-ir:104253
Use Restrictions
These materials are made available for use in research, teaching and private study, pursuant to U.S. Copyright Law. The user must assume full responsibility for any use of the materials, including but not limited to, infringement of copyright and publication rights of reproduced materials. Any materials used for academic research or otherwise should be fully credited with the source. The publisher or original authors may retain copyright to the materials.
Subject
State and local pensions

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