Another study has been released claiming the nation’s state and local public pensions are undervaluing the true extent of their obligations.
The latest analysis from the Hoover Institution says the 564 pensions it studied, which represent 97 percent of all public pension assets in the country, have collective unfunded liabilities of $1.91 trillion.
But that number doesn’t tell the true story, thinks Joshua Rauh, a senior fellow at the Hoover Institution and author of Hidden Debt, Hidden Deficits.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
