Scary to hear how "underfunded" pensions are when using a 4% discount rate but state/locals not required to fund to that level #muniland
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@emptywheel Corporate pension rules set by fed govt. State/local pension rules determined by each state. 1/2Thanks. Twitter will use this to make your timeline better. UndoUndo
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@emptywheel 2/2 Govt accounting overseer, GASB, recommends standards for accounting for pensions but govts only have to show on balsheet. -
@cate_long Thanks. -
@emptywheel My pleasure.
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