Sunday, July 13, 2008

Cities and states to 'come clean' on pensions

In a New York Times article, entitled `Government Rule Makers Looking at Pensions', we learn that the plight of public pensions will soon be brought to light. At risk to the cities and states are their bond ratings, and potential for 'pension misconduct'.

NORWALK, Conn. — As cities and states struggle with ballooning retirement costs, accounting rule makers started an ambitious project Thursday to force state and local overnments to issue better numbers and reveal the true cost of their
pension promises.

1 comment:

Frank Keegan said...

Public pension panic

By The Baltimore Examiner Newspaper
- 9/21/08

It’s pension panic time. Panic early. Panic often. Demand reform. Public employees must take control of their financial destinies.

Politicians have made promises they never can keep. They and the union bosses who fleece workers don’t have to worry about it because they figured by the time the inexorable mill of reality turns up their deceit, it all will be somebody else’s problem. ...

Click for entire editorial and links to more information.