Feds must address mounting costs of public pension funds

09/17/2010 | New York Times (tiered subscription model), The

City and state pension funds are hiding the true amount of their liabilities from local governments, which often end up having to subsidize increasingly mounting losses, write Richard Riordan, a former California secretary of education, and Alexander Rubalcava, head of an investment advisory firm. They argue that the federal government must offer tax-free guaranteed securities to cover rising pension costs in exchange for plans to cap their liabilities and adopt better management practices.

View Full Article in:

New York Times (tiered subscription model), The

Published in Brief: