Gambling with Borrowed Money: The Case of Pension Obligation Bonds

Filed Under (Retirement Policy, U.S. Fiscal Policy) by Jeffrey Brown on Mar 9, 2011

Over the weekend, my colleague George Pennacchi and I published an op-ed in the Champaign News-Gazette trying to explain why the City of Champaign (Illinois) would not really be saving any money by issuing pension obligation bonds, the proceeds of which would be used to contribute to the police and fire pension funds.  You can read it by clicking HERE.