The worst offender is Illinois. New York is perfectly funded, but New York has other fiscal problems which might impact pensions.
CS Monitor: Illinois leading states facing a pension crisis
State pensions are badly underfunded – and the situation is getting worse...
In 2009, 31 states were underfunding their pensions. The year before, 22 states were in the same boat...
...$1.26 trillion gap in overall retirement benefits owed to public employees that year. (2009)
Illinois ranks the worst...
New York has the highest funding level, at 101 percent...(New York) state was able to pull that off by heavy borrowing and other “creative financing,” which makes the comparison to Illinois unfair.
No comments:
Post a Comment