18.11.2016 20:15:00
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Moody's: Unfunded pension liabilities eclipse capital-related debt at US public universities
New York, November 18, 2016 -- Unfunded pension liabilities now exceed debt used to fund campus facilities and other capital investment at Moody's-rated public universities, the rating agency says in a new report. While annual pension expenses are currently manageable for universities at only 3% of operating expenses in FY 2015, they will rise as investment earnings lag discount rates and some states shift pension payment obligations to their universities.