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States must monitor pensions ongoing

States need to regularly check on pension obligations and liabilities and other long-term expenses to ensure funding obligations are met, said a report.

By Dan Berman | Updated on February 04, 2014

Most states do a poor job of making long-term budget plans and one place they often fail is in considering the funding needs of their public pension systems, a report from the Center on Budget and Policy Priorities said.

The center, a Washington, D.C., think tank that focuses on tax and budgeting policy, said state lawmakers need to have strict oversight of pension funds and their future liabilities to accurately calculate annual contributions.

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