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Non-Technical Summaries

  • States estimate their unfunded liabilities at just under $1 trillion ... [but] that gap increases to $1.3 trillion using the municipal...

Published Versions

Novy-Marx, Robert and Joshua D. Rauh. "Policy Options for State Pension Systems and Their Impact on Plan Liabilities." Journal of Pension Economics and Finance 10, 2 (2011): 173-194.

Policy Options for State Pension Systems and Their Impact on Plan Liabilities, Robert Novy-Marx, Joshua D. Rauh. in The Economics of State and Local Pensions, Brown and Clark. 2011

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