Public-Pension Deficits: How Big? Can They Ever Be Paid?

Video of this event will be livestreamed online at http://american.com/archive/2010/september/public-pension-deficits-how-big-can-they-ever-be-paid

Pensions for public-sector employees are consuming such escalating shares of state and local budgets that governments are faced with the choice between paying for current police, teachers, and firefighters and paying benefits to retired employees. It could be much worse. Economists increasingly challenge the accounting used by public-sector pensions, arguing that it hides trillions of dollars in unfunded liabilities that put budgets and taxpayers at serious risk. Taxpayer risk may be exacerbated as pension funds move their investments into more exotic instruments, such as foreign stocks, hedge funds, and private equity, to try for higher returns. So, how big is the public-pension deficit? As the Governmental Accounting Standards Board reviews public-pension accounting, what should it focus on? What are the possible consequences of these changes? At this event, a panel of retirement experts and public policy economists will address the growing threats to the pension liabilities of states and municipalities.

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Tuesday, September 16, 2014 | 5:00 p.m. – 6:00 p.m.
The Constitution as political theory

Please join us for the third-annual Walter Berns Constitution Day Lecture as James Ceasar, Harry F. Byrd Professor of Politics at the University of Virginia, explores some of the Constitution’s most significant contributions to political theory, focusing on themes that have been largely unexamined in current scholarship.

Wednesday, September 17, 2014 | 8:10 a.m. – Thursday, September 18, 2014 | 1:30 p.m.
Third international conference on housing risk: New risk measures and their applications

We invite you to join us for this year’s international conference on housing risk — cosponsored by the Collateral Risk Network and AEI International Center on Housing Risk — which will focus on new mortgage and collateral risk measures and their applications.

Thursday, September 18, 2014 | 2:15 p.m. – 3:00 p.m.
Speaker of the House John Boehner on resetting America’s economic foundation

Please join us as Speaker John Boehner (R-OH) delivers his five-point policy vision to reset America’s economy.

Friday, September 19, 2014 | 9:15 a.m. – 11:00 a.m.
Reforming Medicare: What does the public think?

Please join us as a panel of distinguished experts explore the implications of the report and the consumer role in shaping the future of Medicare.

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