unfunded liability

  • Post

    Costly Pension Plans Are Fanning the Flames of Teacher Unrest

    In an article published in Education Week, Daarel Burnette and Madeline Will point out that the rising cost of pension obligations is consuming dollars that would otherwise be spent on teacher salaries and other education expenses.  They write, Across the nation, states’ pension obligations for public employees are accelerating,…
    Terry Stoops, April 20, 2018
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    Retirement costs and teacher pay: West Virginia edition

    After nine days on the picket line, teachers in West Virginia are headed back to the classroom.  Gov. James Justice signed a bill passed by the Republican-controlled legislature that gives teachers the pay increase they demanded. Chad Alderman at the Teacher Pensions Blog points out that in West…
    Terry Stoops, March 8, 2018
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    New accounting rules will require states and local governments to fully fund their obligations

    Government has a set of accounting standards they must abide by when reporting their financials.  These rules are managed by the Governmental Accounting Standards Board (GASB).  In 2012 GASB created a new rule requiring state and local government’s to disclose their pension and other unfunded obligations in their financial statements. …
    Sarah Curry, June 9, 2015