WASHINGTON — As a House Judiciary Committee panel meets Monday to hold a hearing on public pensions and the need for state bankruptcy protection, pension and muni bond experts are opposing a recently introduced bill that would prohibit them from issuing tax-exempt bonds unless they subject their pension plans to federal oversight and regulation.
All of the witnesses slated to testify at the hearing — James Spiotto, a partner at Chapman and Cutler; Matt Fabian, managing director of Municipal Market Advisors; Keith Brainard, research director of the National Association of State Retirement Administrators; and Joshua Rauh, associate professor of finance at the Kellogg School of Management at Northwestern University — are expected to question whether pension plans are in crisis or state bankruptcy protection makes sense.
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