Is There A Gorilla In Your Backyard?
By IL Senator Chris Lauzen, CPA, and Barry W. Poulson, PhD
As governments meet demands for full disclosure of their costs, they are discovering a hidden cost in their budgets, the large and growing cost of funding pension and other post employment benefits (OPEB) for retirees. Indeed there is a gorilla in the backyard of virtually every state and local government in the form of unfunded liabilities in pension and OPEB plans.
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