AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
Risky business? Evaluating the use of pension obligation bonds.(includes related article)
Facing a $5 billion budget deficit for fiscal year 2004, the State of Illinois recently turned to its five retirement systems for savings in its operating budget. The plan: borrow money to refinance a portion of the state's $36 billion unfunded pension liability and use a chunk of the proceeds to cover operating budget contributions to the pension systems, thus freeing up nearly $2 billion to offset budget deficits. As attractive as this plan may appear from a budgetary perspective, the issuance of pension bonds generally carries significant risks that are often downplayed in light of immediate fiscal pressures and the concerns of pensioners. Using two pension bond issues ...
- West Haven, Conn., Readies $67 Million Pension Bond Deal.
- Magazine article from: The Bond Buyer McDonald, Michael August 29, 2002 700+ words
...second municipal pension bond deal done in...95 million in pension bonds, respectively...considering a sizable pension bond sale, though...sold its taxable pension bonds in 1998. Pullman...Connecticut municipal pension bond deals in the...
- Finance agencies could be used as conduit issuers for pension...
- Magazine article from: The Bond Buyer Resnick, Amy B. May 16, 1997 700+ words
...2.75 billion pension bond proposal, market...conduit-issued pension bonds would work to...To date, few pension bonds have been issued...he said. All pension bond sales to date...allow the sale of pension bonds to fund up to...conduit-issued pension ...
- Orange County pension bond default provokes anxiety among some investors.
- Magazine article from: The Bond Buyer Altman, Brad December 12, 1994 700+ words
...the ill-fated pension bond deal. Investors...the defaulted pension bond issue was one...series of taxable pension bonds sold in a negotiated...source added. The pension bonds deal was one...97 billion pension bond deal that also...
- Connecticut debates the merits of city-issued pension bonds.
- Magazine article from: The Bond Buyer Kaplan, David March 10, 1997 700+ words
...rewards of issuing pension bonds, just about everyone...opportunities in doing a pension bond issue," said Rodney...cities that issued pension bonds last year: Allentown...together three more pension bond deals, according to...
- Connecticut officials consider measure to ease the issuance of pension bonds.
- Magazine article from: The Bond Buyer Reynolds, Katherine M. January 10, 1997 700+ words
...this week. If pension bonds are sold, public...50% of the pension bond proceeds must...Stratford, Conn., pension bond deal. Charbonneau...100 million of pension bonds to fund the cities...been the largest pension bond deals outside...
- Pension Bonds Will Highlight Philadelphia's Debt Re-Entry.
- Magazine article from: The Bond Buyer Hoffman, David November 18, 1998 700+ words
...1.25 billion of pension bonds scheduled for December...the city to issue pension bonds and stay within its...about issuing the pension bonds following the negative...its $2.8 billion pension-bond issue last year...
- California Pension Bond Plan Still Struggling in Legislature.
- Magazine article from: The Bond Buyer Finestone, Deborah March 26, 2003 700+ words
...state-level pension bond sale in California...sale of taxable pension bonds -- and also...bringing up the pension bond proposal piecemeal...supported the pension bond proposal because...tax attorney. Pension bonds issued to finance...
- NYC says pension bond sale is possibility, but not priority.
- Magazine article from: The Bond Buyer Gasparino, Charles March 30, 1994 700+ words
...the city to engage in pension-bond transactions. An official...comptroller, said the pension bond transaction is an issue...be forced to issue pension bonds as an alternative...city will consider pension bond proposals from investment...