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April 25, 2012

Using Providence for Pension "Liability" Perspective

Pension actuaries use the word "liability" differently than the layman would. The total actuarial accrued liability of Providence's pension system has been given as $1.3 billion, with about $0.4 billion in assets, but the liability as most people would probably conceive of it is more likely $5.7 billion, with the same $0.4 billion saved up to date.

Posted by Justin Katz at April 25, 2012 5:33 PM
Ocean State Current