U.S. States Pension Fund Deficits Widen by 26%, Pew Center Study Says
04/26/2011 - U.S. states’ deficits in their employee retirement systems widened by 26 percent in fiscal 2009 as governments were stung by investment losses and failed to pay enough into their pension funds, a study found.
The deficits, or the difference between the retirement and health-care benefits states have promised their employees and the assets set aside to fund them, grew to $1.26 trillion by the end of the 2009 budget year from $1 trillion a year earlier, the Pew Center on the States said in a report released today. The fiscal year ends in June for all but four states.
Read the full article at bloomberg.com.
- Public Sector Retirement Systems