Public Pension Issues in 2014 and Beyond
Shortfalls in state-run retirement systems continue to grow, and in the 2012 fiscal year, the gap between promises to state workers and funding in the accounts reached $915 billion. Unfunded pension obligations can have significant implications for a state’s fiscal stability, including lower credit ratings, increased borrowing costs and the diversion of state resources away from other spending priorities like infrastructure and education.
Accounting for the State of Public Pensions
August 9, 2014
Presentation by Paul Angelo, Senior Vice President and Actuary
Angelo’s areas of expertise include the design and administration of large defined benefit plans, including extensive experience with large public sector plans, public universities and collectively bargained plans. He serves as valuation actuary for 14 major California county and city retirement systems and associations.