Mariana Trujillo
Managing Director, Government Finance, Reason Foundation
Mariana Trujillo is managing director of government finance at Reason Foundation, where she leads research on the fiscal health of federal, state, and local governments.
Her work examines government debt, public pension liabilities, state and local budgeting, and the effects of retirement benefits on public-employee recruitment and retention. She leads Reason Foundation’s Government Finance Dashboard, a national database and interactive research platform covering the finances of states, cities, counties, and school districts.
Trujillo’s research has been cited by The Wall Street Journal, the New York Post, The Bond Buyer, and other national publications. Her commentary has appeared in Reason Magazine, Governing, the San Diego Union-Tribune, the Hartford Courant, and the Los Angeles Daily News. She has testified before state legislatures and presented her research to policymakers, public-finance professionals, and researchers across the country.
She holds a B.A. in economics from George Mason University and is an alumna of the Stand Together Koch Associate Program and the Mercatus Center’s Schumpeter Fellowship. Before joining Reason Foundation, she interned at JPMorgan, The Mercatus Center, and The Cato Institute.
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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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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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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%.
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San Diego doesn’t have to accept spiraling public pension costs
By creating a new pension tier that shares pension risks with employees, San Diego can prevent escalating liabilities and ensure a more balanced distribution of costs.
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How Brazil’s X ban signals growing control over online free speech
Brazil should be viewed as a cautionary tale for the United States regarding the consequences of unchecked discretionary power over digital speech.
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The U.S. national debt could end low interest rates
The projected surge in treasury bill issuances to finance fiscal deficits may hinder the Federal Reserve’s ability to lower interest rates.
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Alaska is retaining public workers better than most states
Alaska's public sector turnover rates are significantly lower than both statewide and national private-sector averages and lower than most states offering defined benefit pensions.
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As pension costs rise, San Diego must choose between raising taxes, cutting services, or more debt
Without reforming its pension system, San Diego will only get further trapped in this cycle of rising pension costs for taxpayers and challenging budget trade-offs.
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CalPERS takes unnecessary risks that could cost taxpayers
The California Public Employees’ Retirement System has $180 billion in unfunded liabilities.
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Public pension debt rankings for state and local governments
The median public pension system is equipped to finance 76% of its pension obligations.
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Health care retirement debt surpasses state and local government pension debt
In 2022, state and local government other post-employment benefits (OPEB) liabilities reached $789 billion, surpassing $753 billion in unfunded pension liabilities.
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Webinar: 2024 Public pension solvency and performance report
Discussing the 2024 Pension Solvency and Performance Report's findings on public pension debt, investment return trends and more.
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Connecticut’s fiscal guardrails are a solution, not the problem
Public pension contributions made through the fiscal guardrails have freed up approximately $738 million in Connecticut's yearly budget.
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Pension fund size doesn’t matter: Large public pension systems don’t have better investment returns
Asset size is not meaningfully related to investment performance.