WEB EXCLUSIVE: Unfunded Pension Liabilities Cost You | The Sun

This article is the third in a series explaining the basis behind Representative Ryan’s property tax elimination bill. The other articles in this series can be found at www.repfrankryan.com. By Representative Frank Ryan As we continue to explore the reasons behind our efforts to eliminate property taxes, the concerns with unfunded pensions costs at the school district level must be examined to get a full perspective of why property taxes are such a problem. Just the mention of the term unfunded pension liabilities causes the person with even the strongest will to react with a deer in the headlights stare. Unfortunately, unfunded pension liabilities are one of the major cost drivers of why your property taxes are escalating. For instance, in the average school district, pension costs are approximately 30 to 35 percent of payroll compared to approximately 8 percent in those few companies that still have pension plans. The actual rate paid by a school district is an actuarial rate

Source: WEB EXCLUSIVE: Unfunded Pension Liabilities Cost You | The Sun

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