Cities with high unfunded pension liabilities
See 10 cities that have high unfunded pension liabilities, according to a report from Center for State and Local Government Excellence.
Local governments that participate in cost-sharing state employee retirement plans face pressure to manage their pension plan liabilities as a result of Governmental Accounting Standards Board standard 68. The new rule requires municipalities participating in chost-sharing plans to report their share of a state's net pension liabilities.
The Center for State and Local Government Excellence measured 92 cities that participate in cost-sharing plans that are affected by GASB 68. The center estimates that the following cities will see the largest increase in unfunded liability as a percentage of revenue after GASB 68.