United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office Health, Education, and Human Services Division author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 1996-03-14 monographic deposited born digital 23 p. GA 1.13:HEHS-96-56 https://www.govinfo.gov/app/details/GAOREPORTS-HEHS-96-56 P0b002ee180396f0b f:he96056 DGPO 2010-08-12 2011-03-28 GAOREPORTS-HEHS-96-56 machine generated eng fdlp REPORT GAOREPORTS-HEHS-96-56 HEHS-96-56 Actuarial tables Pension plan cost control Financial management Civil service pensions Retirement pensions Accounting procedures State-administered programs Employee retirement plans Underpayments New York New Jersey California Letter Report HEHS Pursuant to a congressional request, GAO reviewed the status of public pension plan funding, focusing on the basic pension plans of state and local governments.<p/>GAO found that: (1) states and localities with underfunded pension plans run the risk of reducing future pension benefits to taxpayers or raising revenues; (2) unfunded liabilities for all state and local pension plans totalled $200 billion in 1992; (3) contributions to pension funds in 1992 fell short of the actuarially required amounts by 60 percent; (4) 75 percent of state and local pension plans involved in a Public Pension Coordinating Council (PPCC) survey were underfunded; (5) more than half of the pension plan sponsors surveyed continued to make payments to pay off their unfunded liabilities; (6) between 1990 and 1992, 20 percent of the plans were both underfunded and not receiving required sponsor contributions; and (7) of 117 plans with complete data in 1990 and 1992, 90 were underfunded. https://www.govinfo.gov/content/pkg/GAOREPORTS-HEHS-96-56/html/GAOREPORTS-HEHS-96-56.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-HEHS-96-56/pdf/GAOREPORTS-HEHS-96-56.pdf GAO/HEHS-96-56 https://www.govinfo.gov/app/details/GAOREPORTS-HEHS-96-56 Letter Report GAO/HEHS-96-56; Public Pensions: State and Local Government Contributions to Underfunded Plans; Actuarial tables Pension plan cost control Financial management Civil service pensions Retirement pensions Accounting procedures State-administered programs Employee retirement plans Underpayments New York New Jersey California