Latest / The Fiscal Policy Podcast with Fexingo: Government Budgets, Stimulus, and Public Spending
How One City Turned Its Pension Crisis Around
This episode dives into the pension crisis facing many US cities, using Houston as a case study. In 2017, Houston faced $8 billion in unfunded pension liabilities, threatening city services and bond ratings. Through a combination of voter-approved reforms, increased employee contributions, and a new governance structure, the city cut its unfunded liability by 40% in just five years. Lucas and Luna break down the mechanics of the crisis, how Houston pulled off the turnaround, and whether other cities like Chicago or Los Angeles can follow suit. Specific numbers include the 60% funded ratio…
The skinny
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