Segal served as an expert source for a Wall Street Journal article about governments across the U.S. decreasing liabilities and balancing budgets for public sector retirees.
“U.S. states as a group have promised hundreds of billions more in retiree health benefits than they have saved up. The gap for so-called post-employment benefits, which mainly consist of retiree health care, amounts to roughly $600 billion, according to government data compiled by Eaton Vance Corp. That is on top of the $1.4 trillion states need to pay for promised pension benefits, according to The Pew Charitable Trusts.
“ 'A lot of them didn’t realize how much they promised,' said Dan Levin, a senior vice president at Segal Consulting, which serves as the actuary for many cities and states.”
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