A new report from the American Legislative Exchange Council (ALEC) shows a rapid rise in state and local governments’ unfunded pension liabilities. At nearly $5.6 trillion, these unfunded liabilities amount to over $17,400 for every man, woman and child in America. That’s a steep price to pay for state and local governments’ failure to set aside the pension benefits they promised to public employees.
Maryland State Senator Gail Bates, the Chair of ALEC’s Pension Reform Committee, will provide opening remarks. Following that, we will have a panel discussion including two of the ALEC report’s authors, Jonathan Williams and Bob Williams, and former Utah State Senator and pension reform champion Dan Liljenquist. The panelists will answer questions about the report’s state-by-state findings, what some states have done so far to address their pension shortfalls, and what additional measures states can take to reduce the burden of unfunded public pension obligations on private taxpayers.
More About the Speakers
Opening Remarks by
The Honorable Gail Bates
Maryland State Senator and Chair, Pension Reform Committee,
American Legislative Exchange Council
Followed by a Discussion with
The Honorable Daniel Liljenquist
Board Member, Retirement Security Initiative, and former Utah State Senator
Vice President, Center for State Fiscal Reform, American Legislative Exchange Council
The Honorable Bob Williams
President, State Budget Solutions
Senior Policy Analyst, Economics and Entitlements