Ignoring risk hides pension costs from policymakers
A new rule currently being considered by the Actuarial Standards Board would finally require public pensions to meaningfully account…
US public pension plans’ accounting gimmicks exposed
I’ve written previously on the staggering consensus of experts who reject the accounting methods utilized by U.S. state and local…
Unfunded liabilities as quicksand: Why it is so difficult to return to funded status
PensionTsunami.com brings us these remarkably insightful remarks from David Crane that explain why – when already carrying an unfunded liability –…
Nobel Laureate: Public Pensions are a “Disaster” and Rely on “Idiotic” Accounting
Nobel laureate William F. Sharpe spoke to the Financial Analysts Journal on how public pension plans use inappropriately high discount…