The $3 Trillion Challenge

Source: Katherine Barrett and Richard Greene, Governing, Vol. 21 no. 1, October 2007

No one knows much about how public pension funds are governed or who’s governing them. It’s about time we did.

Even governments that don’t have dramatically underfunded pension plans are facing unprecedented problems in paying for their liabilities, largely as a result of prior years’ decisions to put off actuarially required contributions and a more recent phenomenon: the growth in the number of retirees.

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