Since the Pension Standards Act (1985) has limited rules related to unfunded liabilities
, such failures may warrant revisiting.
The state's pension systems have a combined $134 billion in unfunded liabilities
. That's the difference between the value of all the pension obligations the state has incurred, and the current value of the pension funds plus the funds' expected earnings over the anticipated length of those obligations.
GE's risk profile is likely to "significantly improve" as uncertainties regarding its financial leverage, litigation and government investigations, unfunded liabilities
, and operational turnaround plans for Power are likely to emerge over the next few months, Heymann tells investors in a research note partially titled "End of Apocalypse Scenarios Now at Hand." Specifically, the analyst sees a rising likelihood that GE may accelerate the timing and size of its original plans for the initial public offering of GE Healthcare.
Although additional appropriations by the state are an available tool, Fitch believes it unlikely the state will address unfunded liabilities
directly from its own resources and relieve local government and public authorities of contributions funded by their own revenues.
The ARC is the amount that the state must contribute to the pension fund in order to amortize the liabilities the pension accrued in the current year (referred to as the "normal cost") as well as any unfunded liabilities
accrued, but not fully funded, in previous years (referred to as unfunded liabilities
Throw in unfunded liabilities
and you get a whoppingly large promise that cannot be kept.
Hegar's been the bearer of good news and bad news in recent months - from the state's low unemployment rate and strong and growing economy to Texas' AAA bond rating being at risk over unfunded liabilities
and a big anticipated budget shortfall.
Many local governments struggle under the weight of unfunded liabilities
. Pension liabilities are, perhaps, the most notorious of these, but there are many unfunded liabilities
that local governments must be concerned with, such as those associated with:
However, economic managers said it would raise the SSS' unfunded liabilities
from P3.5 trillion to P5.9 trillion.
Empirical results based on cross-city comparisons in the magnitude of unfunded liabilities
are consistent with the predictions of the model.
Some analysts suspect the bill is really aimed at saving all of the potential Federal Reserve bailouts for the federal government itself, which currently has more debt and unfunded liabilities
than any entity has ever accumulated in all of human history.