Program Description: The Attorneys General Symposium on the Economics and Law of Public Pension Reform discussed the looming financial and structural crisis facing state pensions systems across the nation. With several dozen states adopting modest to major reforms, the economic impact on plan beneficiaries will be substantial, and at least twenty-five jurisdictions are facing lawsuits due to the reforms adopted.
This symposium comprehensively outlined the underlying structure of pension systems, addressed the differences between public and private pensions, and detailed the unfunded liabilities and potential bankruptcy issues arising from this crisis. It also discussed the legal challenges to reform efforts under state constitutions citing both the contracts clause and the takings clause.
The symposium was structured to allow ample time for participant dialogue with speakers and panelists.
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