Search Results

Nevada’s Public Pension Plan Sees Long Term Unfunded Liability Grow Slightly In 2011

Friday, November 18th, 2011

CARSON CITY – Nevada’s public employee pension plan saw its long-term funding ratio decrease slightly in the fiscal year ending June 30, dropping to 70.2 percent from 70.5 percent in fiscal year 2010.

The Public Employees’ Retirement System board heard an update on the plan, which covers virtually all state public employees, at a meeting Wednesday in Las Vegas.

Dana Bilyeu, executive officer of PERS, said in a telephone interview that the slight increase in the long-term unfunded liability of the plan comes even as the pension investments saw a record 21 percent return in fiscal year 2011, which ended June 30. The pension plan is still absorbing (Continue reading…)

Nevada Public Pension Liabilities Vastly Understated, New Report Says

Thursday, November 3rd, 2011

CARSON CITY – Nevada’s public employee pension system is one of the better funded plans around the country, but its financial health is far poorer than taxpayers may realize because of the way the long-term liabilities are calculated, a new analysis released today says.

The report by Andrew Biggs, a resident scholar at the American Enterprise Institute in Washington, DC, was prepared for the Nevada Policy Research Institute, a conservative think tank.

Titled “Reforming Nevada’s Public Employees Pension Plan” the analysis says that when the long-term unfunded liabilities of the plan are calculated using a “market-based” valuation, a measure endorsed my most professional economists, (Continue reading…)

Study Says Unfunded Liability of Nevada’s Public Employee Pension Plan Vastly Understated

Friday, April 9th, 2010

CARSON CITY – If the idea that a $9.1 billion long-term unfunded liability in Nevada’s public employee pension plan is cause for concern, then a recent analysis by the American Enterprise Institute for Public Policy Research should really get the attention of state policy makers.

The study by Andrew Biggs, a resident scholar at AEI, says the methods by which unfunded liabilities are calculated by state and local government pension systems are inaccurate and do not show the real risk to taxpayers who will foot the bill if the funds fall short of cash to pay obligated retirement benefits.

A market valuation of pension shortfalls is more accurate and shows (Continue reading…)