Opinion Columns & Blogs

June 24, 2014 12:00 AM

Getting real about pensions,Detroit is leading the way

Slowly but surely, reality is taking hold in the debate over the massive liabilities state and local governments have accumulated for their workers’ pensions and other benefits. For years, governments routinely inflated estimated pension-fund investment returns to make them seem better-funded than they are, but two years ago the Governmental Accounting Standards Board, an authoritative nonprofit organization, issued guidance intended to curb that tendency.

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