By Jarrett Skorup | Michigan Capitol Confidential
LANSING — There are an estimated $730 billion to $4 trillion in unfunded pension liabilities across the states. These costs are crowding out services, harming communities, and causing public employees to worry that governments cannot keep their promises.
It’s time to do something about that before it gets too late, said former Utah State Sen. Dan Liljenquist at an event on Wednesday.
Liljenquist helped usher through reforms in Utah that shifted public employees to a 401(k)-type plan and was named public official of the year in 2011 by Governing Magazine. He spoke at an Issues & Ideas forum hosted by the Mackinac Center for Public Policy titled, “How States Are Fixing Pension Problems – And Michigan Can Too.”
at Michigan Capitol Confidential.