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If you are an employee of a State or Local government you better be watching your pension plan closely.
http://www.ncpa.org/pdfs/st329.pdf
Some things I found interesting....
[B]For example, recent reports by the Pew Center on the States and others indicate that assets will cover about 85 percent of the pension benefits owed to participants.
We analyzed 153 state and local pension plans, representing more than 85 percent of liabilities for state and local pensions and other benefits, and recalculated their liabilities using a lower discount rate. Our calculations show:
■ Unfunded pension liabilities are approximately $2.5 trillion, compared to the reported amount of $493 billion.
■ Unfunded liabilities for health and other benefits are $558 billion, compared to the reported $537 billion.
■ Thus, total unfunded liabilities for all benefit plans are an estimated $3.1 trillion
http://www.ncpa.org/pdfs/st329.pdf
Some things I found interesting....
[B]For example, recent reports by the Pew Center on the States and others indicate that assets will cover about 85 percent of the pension benefits owed to participants.
We analyzed 153 state and local pension plans, representing more than 85 percent of liabilities for state and local pensions and other benefits, and recalculated their liabilities using a lower discount rate. Our calculations show:
■ Unfunded pension liabilities are approximately $2.5 trillion, compared to the reported amount of $493 billion.
■ Unfunded liabilities for health and other benefits are $558 billion, compared to the reported $537 billion.
■ Thus, total unfunded liabilities for all benefit plans are an estimated $3.1 trillion
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