Here's what we're reading this week at RSI...

 

Week of August 15, 2016

  • This informative four-part series in the Bond Buyer on pension funding. The series includes articles on the municipal pension crisis, legal precedent in pension policy, pension gridlock in New Jersey and Illinois, and pension bankruptcy. 

  • Commentary in Governing by Ash Center Fellow Charles Chieppo on the urgency for public pension reform.

  • Stanford Scholar David Crane's article on funded ratios. He notes, "Public pension liabilities grow at super-high rates because public pension fund boards deliberately suppress their valuation when they are created...Like a coiled spring, the more pension liabilities are suppressed when created, the harsher they snap back over time."

  • Robert Fellner's commentary on CalPERS once again missing its investment target. The Nevada Policy Research Institute director argues the importance of acting now to reform the failing system instead of waiting for the next wave of municipal bankruptcies.

  • 'Opinion: The $6 trillion public pension hole that we’re all going to have to pay for,' by Ed Bartholomew and Jeremy Gold. The two thought leaders say that "U.S. state and local employee pension plans are in trouble — and much of it is because of flaws in the actuarial science used to manage their finances."

  • These important court opinions in Kentucky and California on cost of living adjustments and vested rights; and RSI's press release on the latter.

And here's what we're watching...