The Brookings Institution, a nonprofit public policy organization based in Washington, D.C., released a study evaluating the unfunded accrued liabilities (UAL) of local and state pension plans. Researchers found that, just because a system has an UAL, does not necessarily mean the retirement plan is unsustainable. Researchers also consider whether pension systems are facing a financial crisis in this study.
Rodney R. Watson
LRTA Executive Director