Mariana Trujillo
Managing Director, Government Finance, Reason Foundation
Mariana Trujillo is managing director of government finance at Reason Foundation.
She holds a B.A. in economics from George Mason University. Before joining Reason Foundation, she interned at JP Morgan, The Mercatus Center, and The Cato Institute.
Trujillo’s research focuses on the fiscal health of federal, state, and local governments, particularly the impact of pension liabilities on fiscal condition and the effect of retirement benefits on public-employee recruitment and retention. Her work has appeared in outlets such as Reason magazine, the San Diego Tribune, Hartford Courant, Los Angeles Daily News, CQ Researcher, and more. She has also testified on these issues before the Oklahoma House of Representatives and the Connecticut General Assembly.
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San Diego’s government needs more competition, not more taxes
San Diego’s rising pension costs and mounting long-term debt are creating significant budget pressures that have city officials turning to tax and fee increases.
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State and local governments are drowning in debt
To address this mountain of debt and restore fiscal stability, state and local governments must sustainably align spending with revenues.
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Connecticut’s pensions shouldn’t make political investment in WNBA team
Keeping the Connecticut Sun in the state may be good politics, but would be an unwise financial move that puts the state's taxpayers at risk.
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Most public pension contributions go toward paying off debt, not funding benefits
Over 50% of the public pension contributions by state and local governments are directed toward paying off pension debt rather than to benefits themselves.
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Report: Cities have $1.4 trillion in debt
San Francisco, Nantucket, New York City, Ocean City, and Miami Beach are the cities with the most per capita debt.
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Report: County governments have $757 billion in debt
In per capita terms, North Slope Borough, Alaska, ranks first, with its total debt representing $46,883 per county resident.
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Pension Reform News: Reason’s annual report finds $1.5 trillion in aggregate pension debt
Plus: Undoing California's pension reforms could cost billions, what government worker reductions mean for pensions, and more.
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Study: Illinois, Connecticut, Alaska, Hawaii, New Jersey and Mississippi have the most per capita pension debt
Illinois, Kentucky, New Jersey, Mississippi, and Connecticut have less than 60% of funding needed to pay for promised pension benefits.
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The public pension plans with the most debt, best and worst investment return rates
The Maryland and Massachusetts teachers' retirement plans saw the largest growth in debt, the Fire Fighters' Relief and Retirement Fund of Austin posted the worst returns and the Miami General Employees and Sanitation Employees Plan had the highest return rate.
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Report: State and local pension plans have $1.48 trillion in debt
State pension systems have $1.29 trillion in unfunded liabilities, and local governments have $187 billion.
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Report ranks every state’s debt, from California’s $497 billion to South Dakota’s $2 billion
Study finds state governments have a total of $2.7 trillion in debt, with 26 states exceeding $20 billion in debt each and 10 states over $70 billion.
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Report: State and local governments have $6.1 trillion in debt
State and local debt is over $100 billion in 16 states and exceeds $50 billion in 27 states. California’s state and local governments have over $1 trillion in debt.
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Best practices to prevent misuse of opioid settlement funds
States should adopt clear guidelines to ensure settlement funds support evidence-based treatment and recovery.
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Over 99% of public pensions failed to meet their assumed rate of investment returns
And 86% of public pension plans still have assumed rates of return that are higher than their 23-year average.
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Undoing public pension reforms would cost California taxpayers
Legislative proposals would reintroduce long-term fiscal risks and obligations to taxpayers and future generations.
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Debtor Nation 2025
At $36 trillion, the United States' debt-to-GDP ratio now exceeds 120%, surpassing the peak reached after World War II.
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Public employees are not underpaid
When adjusted for work hours, benefits, and aptitude, there is no meaningful compensation gap between equivalent public and private-sector employees.
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With additional plans reporting, total unfunded public pension liabilities in the U.S. grow to $1.61 trillion
Information added to the Annual Pension Solvency and Performance Report finds the median funded ratio across public pension plans decreased marginally to 75.8%.
