State and Local Pension Underfunding

The unfunded liabilities of state and local government pension plans are of significant alarm to Chamber members. The Chamber is concerned about the increased burden on taxpayers —both individual and corporate. Moreover, we fear that this may give state and local governments an unfair advantage against private employers when competing for employees because the government provides greater benefits than employers can afford, and then employers pay for government-provided benefits through higher taxes. Therefore, we will continue to oppose proposals that would give state and local governments an unfair advantage against private employers when competing for employees.