A bill that convincingly passed through Colorado's House of Representatives authorizing up to $12 billion in Pension Obligation Bonds failed to make it out of that state's Senate Finance Committee this week.
It was the latest of a recent surge in POB interest, as state sponsors of underfunded pension plans rush to consider the controversial funding strategy before an imminent rise in interest rates.
In Colorado, proceeds from the issuance would have gone to close the $23 billion funding gap in Colorado's Public Employee Retirement Association plan. Proponents included Gov. Jon Hickenlooper, a Democrat, and his Treasurer, according to the Denver Business Journal.
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