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Locally administered pensions have $574 billion in unfunded liabilities

A new report by the Lincoln Institute of Land Policy tries to shine a light on local government pension plans and how they fared during the Great Recession and after.

By Paula Aven Gladych | Updated on August 02, 2012

A new report by the Lincoln Institute of Land Policy tries to shine a light on local government pension plans and how they fared during the Great Recession and after.

According to the report, local plans represent a modest share of public pension fund membership (10 percent) and assets (18 percent), but the consequence of their failure could be catastrophic. These smaller pension plans are important because about one-quarter of government employees do not participate in Social Security.

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