Gail SussmanManaging Director - US Public FinanceGail.Sussman@moodys.comChris HolmesVice President – Director of Public Finance Research Christopher.Holmes@moodys.comTim BlakeManaging Director - Public FinanceTimothy.Blake@moodys.com Jack DorerManaging Director - Public FinanceJack.Dorer@moodys.comBob KurtterManaging Director - Public FinanceRobert.Kurtter@moodys.com John NelsonManaging Director - Public FinanceJohn.Nelson@moodys.com Naomi RichmanManaging Director - Public FinanceNaomi.Richman@moodys.com
Growing unfunded liabilities confronting many US state and local government pension plans have pushed the topic of public pensions into the spotlight. Unfunded liabilities have increased more rapidly in recent years because of weaker-than-expected investment results, previous benefit enhancements, historical assumptions on investment returns and in some cases, failure to pay the full annual required contribution. Market participants are increasingly weighing the potential repercussions of these growing liabilities as public finance issuers continue to face financial challenges brought on by the lingering economic downturn. This page highlights key Moody’s research that provides insight on public finance pensions and the related credit impact on issuers.
