In a blink, US state and local unfunded pension liabilities jump $2.3 Trillion!
by SpontaneousDisorder https://www.bloomberg.com/news/articles/2018-09-27/fed-accounting-change-boosts-unfunded-pension-obligations-chart In case you missed it, the Federal Reserve’s quarterly Financial Accounts report last week included a change to accounting for state and local pension-fund programs. The central bank revised its data for unfunded liabilities, applying a “projected benefit obligation” method instead of the prior “accumulated benefit obligation” approach. With the change increasing unfunded obligations … Read more