Some states and municipalities are in difficult financial straits. Many more have severely underfunded defined benefit pension plans for their past and current employees. At the intersection of these two sets, it is likely that the pension plans are not sustainable and cuts are inevitable,...

Unsustainable defined-benefit public pension scheme, rising life expectancy, and high level of unemployment endanger the socioeconomic and political stability of Uganda’s economy. This research approaches the problem from labor supply point of view by: (i) analyzing the effect of the public...

This paper first describes how public employee pensions currently measure their financial health; then describes the strong consensus from economists that current accounting rules significantly understate pension liabilities and overstate pension funding levels; and finally, describes how...