State Pension Liability Picture

Besides the Federal Unfunded Liabilities, the individual states have their own challenges.  Let’s not forget the city unfunded liabilities as well.  How much more debt can the future generation absorb?  Who is going to be responsible for all the mounting debt in an economy that is not responding to the Fed’s $85 Billion per month stimulus?

State Budget Solutions 50 State Pension Table, Moody’s Plan List (all figures except Per Capita in thousands)

State

Actuarial Assets   

Market Liability

   Funded Ratio             

Unfunded Liability

.

Alabama

$27,902,559

$82,669,822

34%

$54,767,263

.

Alaska

$10,108,098

$33,579,228

30%

$23,471,130

.

Arizona

$30,359,859

$79,925,775

38%

$49,565,916

.

Arkansas

$6,864,900

$18,711,205

37%

$11,846,305

.

California

$415,621,000

$995,095,267

42%

$579,474,267

.

Colorado

$12,538,675

$41,576,848

30%

$29,038,173

.

Connecticut

$23,479,800

$97,439,982

24%

$73,960,182

.

Delaware

$7,565,440

$15,680,810

48%

$8,115,370

.

Florida

$127,891,781

$280,543,392

46%

$152,651,611

.

Georgia

$67,688,311

$151,447,824

45%

$83,759,513

.

Hawaii

$12,242,500

$39,193,563

31%

$26,951,063

.

Idaho

$11,306,200

$24,516,498

46%

$13,210,298

.

Illinois

$63,372,566

$314,857,111

20%

$251,484,545

.

Indiana

$21,002,787

$60,375,598

35%

$39,372,811

.

Iowa

$23,530,094

$53,887,720

44%

$30,357,626

.

Kansas

$13,278,490

$46,167,691

29%

$32,889,201

.

Kentucky

$18,289,914

$72,317,917

25%

$54,028,003

.

Louisiana

$24,014,289

$86,835,337

28%

$62,821,048

.

Maine

$11,076,400

$24,761,724

45%

$13,685,324

.

Maryland

$34,089,464

$101,771,068

33%

$67,681,604

.

Massachusetts

$42,649,119

$130,540,526

33%

$87,891,407

.

Michigan

$10,212,000

$30,600,677

33%

$20,388,677

.

Minnesota

$27,345,756

$73,262,495

37%

$45,916,739

.

Mississippi

$19,992,797

$67,673,609

30%

$47,680,812

.

Missouri

$7,897,167

$21,176,705

37%

$13,279,538

.

Montana

$7,347,601

$21,914,863

34%

$14,567,262

.

Nebraska

$1,418,153

$3,023,170

47%

$1,605,017

.

Nevada

$27,399,000

$75,741,238

36%

$48,342,238

.

New Hampshire

$5,861,896

$19,751,867

30%

$13,889,971

.

New Jersey

$42,800,310

$147,143,964

29%

$104,343,654

.

New Mexico

$21,218,347

$63,717,053

33%

$42,498,706

.

New York

$147,809,000

$309,763,562

48%

$161,954,562

.

North Carolina

$58,125,011

$109,297,356

53%

$51,172,345

.

North Dakota

$3,375,500

$10,541,999

32%

$7,166,499

.

Ohio

$124,925,508

$367,278,792

34%

$242,353,284

.

Oklahoma

$20,466,046

$60,727,151

34%

$40,261,105

.

Oregon

$44,943,100

$120,068,763

37%

$75,125,663

.

Pennsylvania

$83,530,310

$239,398,931

35%

$155,868,621

.

Rhode Island

$6,167,492

$19,527,153

32%

$13,359,661

.

South Carolina

$29,349,683

$82,013,612

36%

$52,663,929

.

South Dakota

$7,828,000

$14,938,398

52%

$7,110,398

.

Tennessee

$36,680,783

$73,328,483

50%

$36,647,700

.

Texas

$142,598,556

$340,996,932

42%

$198,398,376

.

Utah

$20,386,602

$49,001,616

42%

$28,615,014

.

Vermont

$2,918,189

$7,943,333

37%

$5,025,144

.

Virginia

$54,473,000

$133,823,921

41%

$79,350,921

.

Washington

$59,564,000

$122,563,542

49%

$62,999,542

.

West Virginia

$9,397,333

$27,378,131

34%

$17,980,798

.

Wisconsin

$78,940,000

$138,707,039

57%

$59,767,039

.

Wyoming

$6,187,203

$15,289,057

40%

$9,101,854

.

Total

$2,114,030,589

$5,518,488,319

38%

$3,404,457,730

Note: this spreadsheet included pension plans listed in Moody’s Investors Service’s "Adjusted Pension Liability Medians for U.S. States," published June 27, 2013

See: http://www.statebudgetsolutions.org/publications/detail/promises-made-promises-broken-the-betrayal-of-pensioners-and-taxpayers#ixzz2jb9RWznD

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