Thursday, February 18, 2010
State pension shortfall not as bad as it seems -- but has the crash of 2008 been considered yet?
The Washington Post has an editorial today, Thursday, Feb. 18, “The Mixed News about State and Local Pensions”, link here. So, it won’t be so bad, or will it? States have about 84% of their $2.8 trillion long term obligations, but there is heavy concentration of shortfalls in a few states (New Jersey and Illinois), as well as a lack of taking into account the Crash of 2008.
The main link for the “Pew Center on the States” report seems to be (web url) here, title “The Trillion Dollar Gap: Underfunded State Retirement Systems and the Road to Reform.”