Which of the following statements best describes a key issue in the finances of many state and local government pension programs? State and local governments improperly divert public revenues into pension funds to garner political support from government employees. Pension managers use an interest or discount rate that is too low when determining the amount of money to be set aside each year to cover future benefits. Many state and local governments make inadequate contributions into the pension funds to support promised future benefits. States assume the obligations of local pension programs.

Which of the following statements best describes a key issue in the finances of many state and local government pension programs? State and local governments improperly divert public revenues into pension funds to garner political support from government employees. Pension managers use an interest or discount rate that is too low when determining the amount of money to be set aside each year to cover future benefits. Many state and local governments make inadequate contributions into the pension funds to support promised future benefits. States assume the obligations of local pension programs.

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter5: Gross Income: Exclusions

Section: Chapter Questions

Problem 2RP

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