Wednesday, June 27, 2012

Easy to confuse me

Sometimes more than others media coverage really befuddles me.  I mentioned this a couple weeks ago, and now the Philly Inquirer has now looked into it a little.  But the changes in public pension accounting just enacted are at least metaphysically a big deal...  and if local actuaries don't follow them, then that is a story as well. 

Just look at the table in the Inky's article there.  You would think that just out of sheer curiosity someone would want to know what local pension funds' status would be if similarly recalculated.  And note the discussion of 'smoothing' which happened in Pittsburgh the last actuarial reporting cycle for the first time and which was pretty much unmentioned anywhere.

Anyway...  anyone want to guess what the best funded large public pension fund is in the region if not the state? 

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