The Hill News

In 2010, alarm bells started going off around the country about the huge costs and liabilities associated with public employee pensions. Lawmakers in 18 states enacted pension reforms intended to cut costs, with more considering the issue in 2011.

Unfortunately, many of these reforms have not gone far enough to produce the necessary savings, in part because lawmakers lack the information they need to understand how unaffordable pensions are. If we want to see better reforms in 2011 that make retirement benefits sustainable and provide real relief to taxpayers, we will first have to make public pension systems more financially transparent.

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