A series of government accounting reforms could change the way public pensions calculate their unfunded liabilities.
The reforms could worsening a funding shortfall in public retirement systems nationwide and put bigger financial burden on taxpayers to bail them out.
Depending on how the reforms are implemented, for example, Oregon may avoid being subject to proposed rules that could significantly increase its reported pension shortfall, estimated at about $14 billion as of January. That’s about 75 cents in assets for every dollar in liabilities, not counting side accounts some employers have established to offset their individual shortfalls.
Read the full story in today’s Oregonian.
