It’s incredible, but very few state and local municipalities have ever done the actuarial studies needed to determine what their future liabilities are going to be to their retirees. Or put it another way, the future liability of the taxpayers of the state or local municipality.
This New York Times article focuses on NY City, but it’s true for virtually all municipalities in the country. Huge Rise Looms for Health Care in City’s Budget – New York Times
This article will only be available for free online for seven days and you may have to register with the NY Times (it’s free and easy to do). I have archived this article, if anyone wants it sent to them.
The Washington Times has a very comprenensive article on what the aging of America – as baby boomers hit their 60’s – means. America’s starting to look a lot older – Nation/Politics – insider.washingtontimes.com
You may have to rgister with the Washington Times (also free and easy) and the article will be online for quite a while, for free.
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