For years, most states and many local governments have been underfunding the future liabilities of

Question

Quizplus · Accepted Answer

Many states and local governments have been underfunding employee retirement benefits, which can include pensions, health care benefits, and other post-employment benefits (OPEB). This underfunding leads to future liabilities that may not be fully covered by current funding, creating a financial burden for future taxpayers or requiring cuts to other government services.

For Years, Most States and Many Local Governments Have Been