Several large cities could end up arguing with their states overtheir share of state unfunded pension liabilities.
According to a report from the Center for State and LocalGovernment Excellence and the Center for Retirement Research atBoston College, the new (2015) requirement from the GovernmentalAccounting Standards Board (GASB) that requires employers thatparticipate in cost-sharing pension plans to report their share ofa state’s “net pension liability” on their balance sheet is havinga substantial impact on many large cities that participate incost-sharing state plans.
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