PERS

Steve Kreisberg, a union representative for AFSCME, and Andrew G. Biggs, a scholar at the American Enterprise Institute, discuss public pension issues on “Newshour” in relation to the Detroit bankruptcy and Illinois vote to cut pension benefits. Public pensions are contractual obligations to pay employees retirement benefits as partial compensation for their work. Biggs says…

What’s one reason for the nation’s public pension crisis? It may have to do with placing false hopes on risky investments and making pensions look better off than they really are. What’s one reason for the nation’s public pension crisis? It may have to do with placing false hopes in risky investments and making pensions…