Urban Fiscal Stability and Public Pensions: Sustainability Going Forward

On Nov. 11, Penn IUR hosted a dynamic discussion with leading practitioners and researchers on the complex fiscal issues facing cities, focusing on the legacy issues of the funding of pensions, and looking forward to strategies that support financial sustainability. 

Urban Fiscal Stability and Public Pensions: Sustainability Going Forward (Part 1) 

Urban Fiscal Stability and Public Pensions: Sustainability Going Forward (Part 2) 

“Urban Fiscal Stability and Public Pensions: Sustainability Going Forward”  proved to be a lively discussion with leading practitioners and researchers on the complex fiscal issues facing cities, focusing on the legacy issues of the funding of pensions, and looking forward to strategies that will support financial sustainability. The event’s academic panel included Robert Inman, Richard King Mellon Professor of Finance, Professor of Business Economics & Public Policy, Professor of Real Estate, The Wharton School, University of Pennsylvania; Mathew McCubbins, Professor of Law and Political Science, Duke Law; Amy Monahan, Julius E. Davis Professor of Law, University of Minnesota Law School; Joshua Rauh, Professor of Finance, Stanford Graduate School of Business and Senior Fellow, Hoover Institution, Stanford University, and was moderated by Olivia Mitchell, Professor of Business Economics and Public Policy and Executive Director of the Pension Research Council. The audience also engaged in a lively Q&A session, discussing current municipal finance litigation and future economic implications. The second practitioner panel, made up of Rob Dubow, Director of Finance, City of Philadelphia; Matt Fabian, Managing Director, Municipal Market Advisors; Richard Ravitch, former Lieutenant Governor of New York; James Spiotto, Managing Director, Chapman Strategic Advisors LLC; Marcia Van Wagner, Vice President/Senior Credit Office, States Team, Moody’s Investors Service; and Robin Prunty, Managing Director, Standard & Poor’s Public Finance Ratings. Panelists addressed many important topics, such as the short and long-term solutions to the urban pension systems, how to call for better accounting practices, what can be gained from transparency and reform, and the implications of city bankruptcies. This event was co-sponsored by Next City and made possible with support from Melanie and Lawrence C. Nussdorf.