Several large cities could end up arguing with their states over their share of state unfunded pension liabilities.
According to a report from the Center for State and Local Government Excellence and the Center for Retirement Research at Boston College, the new (2015) requirement from the Governmental Accounting Standards Board (GASB) that requires employers that participate in cost-sharing pension plans to report their share of a state’s “net pension liability” on their balance sheet is having a substantial impact on many large cities that participate in cost-sharing state plans.
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