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The Center for Retirement Research at Boston College has released a new brief on findings based on a in-depth analysis of pension funding and the issues funds and states are facing regarding pensions.
Some key findings from the brief are:
Legacy debt which is causing state and local policymakers unnecessary pension cost burdens
Legacy debt is "unfunded liabilities accumulated long ago, before plans adopted modern funding practices."
The reason as to why these legacy debts still exist is due to older liabilities being paid in full when some of that money could have been used towards funding other benefits.
Because legacy debts has gone unrecognized by state and local policymakers, it has limited growth towards solutions that better target this issue.
To read the full brief and article click the link below.
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