State and Local Public Pensions – Let the Truth Be Told

A General Accountability Office (GAO) study of state and local government pension plans released on Friday, March 2, confirmed what the National League of Cities (NLC) and many other national groups representing employers and state and local pension plans have been saying for years: Public pensions are not facing a short-term crisis. While they need to address expediently their long-term sustainability, most state and local government pension plans have sufficient assets to cover retirees for a decade or more.