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Morality of Public Pension Debt—An Interview with Lawrence McQuillan
Recorded: Tuesday, June 16, 2015

Senior Fellow Lawrence McQuillan, author of California Dreaming, appears on WEBY radio in Florida. McQuillan discusses the implications of leaving future generations saddled with debt owed to public employee pension systems. His simple idea is to switch now to a defined contribution plan, similar to a 401-k, rather than a defined benefit plan, such as a pension plan. Private companies long ago did away with defined benefit plans. Across the United States, cities, states and counties have pension plans for public employees that are underfunded. Recent bankruptcies have shown that if the trend continues, judges will cut the payments to retirees in bankruptcy rulings.

Experts: Lawrence J. McQuillan
Type: Radio
Issues: Bureaucracy and Government, Economic History and Development (U.S.), Taxes

       
Comments

How to Fix the Public Pension Crisis—An Interview with Lawrence McQuillan
Recorded: Monday, June 15, 2015

Senior Fellow Lawrence McQuillan, author of California Dreaming, appears on the Pete Kaliner show on WWNC radio to explain how California and other states and cities have gotten into the situation with massive public pension deficits. Promises were made to public employees, but the pension funds are less than what was promised to retirees. McQuillan has a plan to switch these pension plans to a defined contribution plan, similar to a 401-k, which could not be underfunded. If private sector companies did this to their pension funds, they would be in prison. McQuillan explains how pension funds around the US have gotten to this crisis point.

Experts: Lawrence J. McQuillan
Type: Radio
Issues: Bureaucracy and Government, Economic History and Development (U.S.), Taxes

       
Comments

Public Pension Crisis—An Interview with Lawrence McQuillan
Recorded: Monday, June 15, 2015

Senior Fellow Lawrence McQuillan, author of California Dreaming, appears on KCAA radio and talks about the $4.7 trillion unfunded pension debt crisis in the US. Some states are worse off than others but California has the largest pension debt at $750 billion. That money should be in the bank to pay pension benefits, but it is not. Over decades, politicians have promised pension benefits and counted on big returns on investments, but returns on those investments have not materialized. Large cities also face the same problem. How do we fix the situation? McQuillan offers a plan to fulfill promises to retirees and keep pensions solvent.

Experts: Lawrence J. McQuillan
Type: Radio
Issues: Bureaucracy and Government, Economic History and Development (U.S.), Taxes

       
Comments

The Unfunded Public Pension Crisis—An Interview with Lawrence McQuillan
Recorded: Friday, June 12, 2015

Senior Fellow Lawrence McQuillan, author of California Dreaming appears on Radio America’s “Made in America” to discuss the public pension crisis in the US. How did public pension funds become so depleted and why haven’t politicians made good on their promises to fully fund pension systems? The city of Detroit went bankrupt and the judge ruled that pension benefits to current retirees can be cut to pennies on the dollar. McQuillan explains how to fix the system and make good on promises to retirees while keeping future public pension systems solvent.

Experts: Lawrence J. McQuillan
Type: Radio
Issues: Bureaucracy and Government, Economic History and Development (U.S.), Taxes

       
Comments

The Unfunded Public Pension Crisis—An Interview with Lawrence McQuillan
Recorded: Friday, June 12, 2015

Senior Fellow Lawrence McQuillan, author of California Dreaming, appears on the Pete Kaliner show on WWNC radio to explain how California and other states and cities have gotten into the situation with massive public pension deficits. Promises were made to public employees, but the pension funds are less than what was promised to retirees. McQuillan has a plan to switch these pension plans to a defined contribution plan, similar to a 401-k, which could not be underfunded. If private sector companies did this to their pension funds, they would be in prison. McQuillan explains how pension funds around the US have gotten to this crisis point.

Experts: Lawrence J. McQuillan
Type: Radio
Issues: Bureaucracy and Government, Economic History and Development (U.S.), Taxes

       
Comments

Solutions to the Nation’s Public Pension Crisis—An Interview with Lawrence McQuillan
Recorded: Thursday, June 11, 2015

Senior Fellow Lawrence McQuillan, author of California Dreaming appears on KSOO radio in Sioux Falls, South Dakota to discuss solutions to the crisis in underfunded public pension systems across the country. Judges in Detroit and other cities have ruled that pension payouts can be cut for current retirees in the case of public municipal bankruptcies. Transitioning out of public pensions into a 401k-style system would give employees some degree of control over their retirement money. McQuillan proposes a 10% contribution by employers to public employee retirement accounts. The savings could help pay down the debt and it would make good the promises made to pensioners.

Experts: Lawrence J. McQuillan
Type: Radio
Issues: Bureaucracy and Government, Economic History and Development (U.S.), Taxes

       
Comments

California’s Public Pension Crisis and How to Resolve It—An Interview with Lawrence McQuillan
Recorded: Thursday, June 11, 2015

Senior Fellow Lawrence McQuillan, author of California Dreaming appears on KPRL radio in Paso Robles, CA to discuss the public pension crisis in California and other states, cities and counties across the United States. McQuillan explains how California got into the underfunded pension mess and his plan to resolve the crisis. As in the private sector, public pensions would switch to a 401k-style plan where a 10% contribution by the employer would add to contributions by employees.

Experts: Lawrence J. McQuillan
Type: Radio
Issues: Bureaucracy and Government, Economic History and Development (U.S.), Taxes

       
Comments

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