‘Full funding’ for pensions – two ways to skin a cat – Truth in Accounting

"Spending plans that 'fully fund' pension obligations by making statutorily required contributions -- amounts required by legislators, by law -- do not necessarily fully fund pensions. In fact, Illinois has a sad history of passing laws with funding that falls far short of actuarial requirements -- the amounts necessary to keep pension (and related retirement health care) debt from rising over time."
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Dr Nemo
2 years ago

If you look at this as political theater, it makes sense. Our elected leaders pretend to solve a vexing problem like the public pension fiasco. The Tribune and other outlets report what their sources tell them without adverse criticism, leading readers to believe the claims to be accurate. The public is left to wonder when time after time, the Trib reports that the leaders they endorsed have solved some vexing problem, and soon the same reporters are writing about how these same leaders are working on solving the same problems those same reporters had recently led us to believe had… Read more »

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