The result of either or both would be an increase in the pension system's
unfunded liability.
At the end of 2010, Pine Bluff's fire department pension had an
unfunded liability of $20.
Rauh, an associate professor of finance at Northwestern University, and Robert Novy-Marx, an assistant professor of finance at the University of Rochester, add Connecticut's
unfunded liability to the state's debt.
Beyond the next 75 years, there is a black hole of
unfunded liability for future generations.
Nyden, is responsible for half of the
unfunded liability of the Workman's fund, which now runs more than $3 billion.
The employer also pays a 2 per cent supplemental contribution, credited to the members' account, unless there is an
unfunded liability, in which case it is used to fund that shortfall.
If there is no Social Security reform, the
unfunded liability of Social Security and Medicare will be over $20 trillion by 2070.
That would presumably involve making the implicit accrued
unfunded liability of the current social security system to beneficiaries explicit.
5 trillion
unfunded liability a "ticking time bomb," divides opinion into four groups: guardians who want to save the system as it is, nibblers willing to tolerate marginal reform; partial redesigners who favor giving some control to individuals; and total redesigners, who hold that the system should be privatized along the lines of what was accomplished in Chile or plans under consideration in Australia.
6 billion
unfunded liability of the state pension systems, with an additional
unfunded liability for post-retirement medical benefits of $59 billion and no funds reserved for future costs.
When combined with Medicare, the
unfunded liability is $72 trillion -- more than four times the size of our entire economy.
5 million of the state s reserves through the Hawaii Hurricane Relief Fund, and reserving $100 million for the state s
unfunded liability and retiree health care benefits.
