The Crisis in Local Government Pensions in the United States

Source: Joshua Rauh and Robert Novy-Marx, National Bureau of Economic Research, October 2010

From the press release:
The aggregate unfunded liabilities and forecast the number of years assets will last for 77 defined pension plans sponsored by 50 major U.S. cities and counties. The sample represented all non-state municipal entities with more than $1 billion in pension assets, covering 2.04 million local public employees and retirees.

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