State and Local Government Pension Forum

February 28, 2006
Federal Reserve Bank of Chicago
3rd Floor Conference Center
Co-sponsored by the Civic Federation and
National Tax Association

The Federal Reserve Bank of Chicago, the Civic Federation and the National Tax Association sponsored a half-day forum examining growing concerns about the health of state and local government public pension system. In 2003, it was estimated that the largest state and local public pensions were under-funded by over $270 billion and this number was growing rapidly. The 14 million public servants and 6 million current retirees are owed an estimated $2.4 trillion by more than 2,000 different states, cities and municipal agencies. Many states and localities are finding themselves having to divert greater shares of current revenues to meet pension obligations reducing funding for other public programs. This forum will discuss trends in pension funding and administration and policies for managing growing pension obligations.

Visit Rick Mattoon's blog for an ongoing dialog on pensions.