The Relationship Between the Declaration of Independence and the Constitution
- March 21, 2017
In November of 2016, Colorado’s Public Employees Retirement Association Board (PERA) realized it had a problem. Not only did the state’s public pension system have a current unfunded liability of $50 billion, but overly-optimistic expected returns and overly-pessimistic mortality tables would leave the plan at less than 20 percent funded in a couple of decades
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