A new study on pension shortfalls is getting a lot of buzz this morning.It should sound a familiar theme — thanks to unrealistic expectations, cities and states have much bigger pension shortfalls than they’re willing to let on. All told, the gap could hit $3 trillion.
So what’s it going to cost you?
The result is a growing wave of pension shortfalls that threatens to wash over many local governments in the near future, the report said. The authors calculated that each household in the 50 cities and counties they studied owes an average of $14,165 to current and past government employees for their pensions.
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