Unfunded

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Unfunded

Describing any liability or other expense that does not have savings or investments set aside to pay it. That is, the party responsible for paying an unfunded liability pays for it out of current income or by borrowing. The risk of an unfunded liability is that a payee may not receive that which he/she is entitled to if the payer goes through a difficult financial period. It also increases the payer's current liabilities.
References in periodicals archive ?
Critics have called for public pensions to reduce their assumed rates of return to as little as 5 percent or less, which would cause unfunded liabilities to soar and likely leave taxpayers having to cover the difference.
If that is approved, cities and counties could issue bonds to retire the unfunded liabilities of the closed police and fire funds.
If current and projected federal deficits are added to the $53 trillion unfunded liabilities for Social Security and Medicare, and if unfunded liabilities for public-sector pension plans are added to that sum, then total government indebtedness comes to about $66 trillion, or approximately $475,000 for each income-earning taxpayer.
He should also bring in a windfall tax on private equity to repay the taxpayer the amount they have had to pay to bail out the unfunded liabilities of insolvent pension funds.
The GMB called for a Commons inquiry into the unfunded liabilities of the 96 insolvent pension funds it had identified as having links to private equity.
Whereas, employee legacy costs and unfunded liabilities sap vital services from the needy and represent a serious social justice issue pitting the county against the poor;
College officials have estimated that 65 of the 72 California community college districts have unfunded liabilities.
Doing nothing will mean that, at the end of 75 years, Social Security will have chewed up four trillion taxpayer dollars to keep the system solvent--and we still will have an insolvent program with trillions of dollars more of unfunded liabilities staring us in the face.
Generous early retirement schemes passed by legislatures in the 1990s, combined with a surge in teacher hiring and the bear market in stocks, have produced massive unfunded liabilities in these pension funds.
Employers that fund the absolute minimum should not be surprised when unfunded liabilities develop.
Most of the increase in total liabilities is due to substantial increase in unfunded liabilities.
government has eroded many of the programs typically available for funding benefits by reducing the income available for qualified plan funding and requiring employers to account for unfunded liabilities on their balance sheets.