Milwaukee’s High Discount Rate Concealing Long-Term Pension Funding Issues

Milwaukee may soon find itself joining the long list of cities facing pension-related financial difficulties. In March, Moody’s downgraded Milwaukee’s general obligation unlimited tax debt (GOULT) rating from Aa3 to A1, reflecting “escalating pension obligations that are somewhat masked by aggressive actuarial assumptions.”
The city has accumulated $932 million in long-term

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