Analyzes 2009 and 2010 data on states’ funding of pensions and retiree health care to show how states’ retirement systems—many of them already on shaky ground—were affected by the Great Recession:
• Pension funding shortfalls accounted for $660 billion of the $1.26 trillion gap, and
unfunded retiree health care costs accounted for the remaining $635 billion.
• States had only about $31 billion, or 5 percent, saved toward their obligations for retiree
health care benefits.
• State pension plans were 78 percent funded, declining from 84 percent in 2008.
Read the Full Report Here
Print This.
