Latest / The Fiscal Policy Podcast with Fexingo: Government Budgets, Stimulus, and Public Spending
How State Budgets Manage Payroll Surges
We explore the mechanics of public pension fund contributions and why state governments face sudden, massive bill payments every few years. We look at how actuarial assumptions drive these costs, the role of bond market volatility in funding gaps, and what happens when states can't cover their payroll obligations on time. This is a deep dive into the hidden fiscal drag of defined benefit plans.
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The skinny
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