Print Friendly, PDF & Email

Pensions in Illinois, Kentucky, Pennsylvania and other states will

see funded levels decline, in some cases by more than half, as they comply with new GASB rules that for the first time will require future pension costs to be included on balance sheets and change how they must calculate their underfunding. Lots more to this story as we wrote here. Insanely, the government will be keeping these numbers under a different set of books than the pensions. http://www.bloomberg.com/news/2014-06-27/u-s-public-pension-funding-gaps-to-widen-under-new-rules.html