A new way to think about Pension Debt.

What calculation makes Dallas’ pension debt seems smaller than other cities? Overlapping debt analysis that considers the debt of pension systems in shared property tax bases

An example of overlapping debt analysis:

• Dallas unfunded liabilities at the end of 2015 were $1,371 per capita
• For the same time period, Denver had unfunded pension liabilities of $709 per capita
• Factor in overlapping taxing district unfunded liabilities, Dallas liabilities are $1,362 per capita
  • This adds in pension liabilities for the 20 overlapping taxing districts
• Factor in overlapping taxing district unfunded liabilities, Denver’s unfunded pension liabilities are $4,876 per capita
  • This adds in pension liabilities for 1 overlapping taxing district, the Denver Public Schools

Governing | A Better Way to Measure Pension Debt’s Danger