Unfunded Liabilities of State and Local Government Employee Retirement Benefit Plans
Wednesday, July 28, 2010
by Courtney Collins and Andrew J. Rettenmaier
Investors breathed a tentative sigh of relief in recent months as they watched their retirement accounts make up for lost ground. Just a few months earlier, as they watched their 401(k)s weather dramatic stock market swings, many may have wished they were covered by a defined benefit pension plan from their employer (or union).