Underfunded State and Local Pensions Plans

HRD-93-9R: Published: Dec 3, 1992. Publicly Released: Jan 4, 1993.

Additional Materials:

Contact:

Office of Public Affairs
(202) 512-4800
youngc1@gao.gov

Pursuant to a congressional request, GAO commented on the pension-funding practices of state and local governments, focusing on the extent to which state and local governments: (1) failed to make appropriate contributions to plans; (2) changed actuarial assumptions or funding methods in order to lower required contributions; and (3) used pension funds to pay operating expenses. GAO noted that: (1) pension plan contributions by some state and local governments fell short of actuarially required amounts; (2) in some instances, state and local governments changed actuarial assumptions to lower required plan contributions; and (3) there was no evidence that state and local governments removed funds from pension plans for operating expenses.

Jun 4, 2018

May 22, 2018

May 21, 2018

May 17, 2018

Mar 7, 2018

Mar 5, 2018

Feb 21, 2018

Jan 8, 2018

Oct 18, 2017

Looking for more? Browse all our products here