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SOURCE Center for State and Local Government Excellence
New issue brief examines their use
WASHINGTON, July 2, 2014 /PRNewswire-USNewswire/ -- A new issue brief from the Center for State and Local Government Excellence examines the rationale for issuing Pension Obligation Bonds (POBs) and how they have performed since the financial crisis.
An Update on Pension Obligation Bonds, written by Alicia H. Munnell, Jean-Pierre Aubry, and Mark Carafelli of the Center for Retirement Research at Boston College, finds that governments are more likely to issue POBs if their debt levels are high, they are short of cash, and the pension plan represents a substantial obligation to government.
If the timing is good, governments will earn more on the proceeds than they have to pay in interest.
The brief's findings include:
Read the brief at http://slge.org/publications/an-update-on-pension-obligation-bonds
Access all Center retirement research at http://slge.org/research/retirement
About the Center for State and Local Government Excellence
The Center for State and Local Government Excellence helps state and local governments become knowledgeable and competitive employers so they can attract and retain a talented and committed workforce. The Center identifies best practices and conducts research on competitive employment practices, workforce development, pensions, retiree health security, and financial planning. The Center also brings state and local leaders together with respected researchers and features the latest demographic data on the aging workforce, research studies, and news on health care, recruitment, and succession planning on its website, www.slge.org.
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