Pension Basics: Unfunded Liabilities (aka Pension Debt)
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Learn about unfunded liabilities, why funding shortfalls occur, and how governments use amortization payments to pay down this pension debt.
Content Type: Resource
Pension Basics: Normal Cost
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Learn about normal cost, understand how it’s calculated, and see how contributions are split between employees and employers.
Pension Basics: The Pension Funding Formula
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Learn how the pension funding formula balances liabilities with contributions and investment returns to ensure long-term solvency.
Pension Basics: Vesting
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Understand how vesting works in public pensions. Learn about service requirements, vesting rules, and how vesting periods changed over time.
The Pension Basics Series
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Our Pension Basics series breaks down how public pension plans work, from guaranteed income to pension debt and benefit eligibility.
Pension Basics: Assumed Rate of Return
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Discover the assumed rate of return. Learn how it’s determined, its role in funding, and common myths regarding benefits.
Pension Basics: How Pension Benefits Are Calculated
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Pension benefits are typically a fixed monthly payment in retirement that is guaranteed for life. Some pension benefits grow with inflation. Other pension benefits can […]
Financial Resilience Report Metrics
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The Financial Resilience Report is an interactive tool that provides a custom overview of pension fund fiscal health.
Executive Director’s Report | Survival Isn’t Success: The Persistent Fragility of Public Pension Systems
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The Fragility of Public Pension Systems In April 2025, financial markets experienced a sudden and sharp decline, triggered by the Trump administration’s aggressive tariff proposals. […]
How to Account for Pension Debt in School Funding Formulas
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Equable Institute’s recent issue brief on education funding cuts driven by growing teacher retirement costs identified several key problems states and school districts face as […]