Everything old is new again with the reintroduction of thePublic Employee Pension Transparency Act (PEPTA), which seeks tocompel state and local governments to publish theirpension liabilities—or be penalized ifthey fail.
The bill, introduced by Rep. Devin Nunes, R-California, wouldcompel state and local governments to publish theirpension liabilities on a searchablewebsite, and deprive them of their ability to offer tax-free bondsif they fail to do so.
Citing a “lack of meaningful disclosure” about the actual stateof pension liabilities, the bill—variations of which werepreviously submitted by Nunes in 2010 and 2013—would require thatstate and local governments would be required to file a report foreach plan year that would include a range of information.
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