WebJun 9, 2024 · The states with the most unfunded liabilities are California ($1.53 trillion), Illinois ($533.72 billion), Texas ($529.70 billion), New York ($508.70 billion) and Ohio … WebFeb 21, 2024 · Broadly, we know California state and local governments face more than $400 billion in unfunded liabilities for public employee retirement benefits—enough money to cover the state’s general fund for three years, including funding schools, universities, prisons and health care for the poor.
States’ Unfunded Pension Liabilities Persist as Major Long-Term
WebFeb 20, 2024 · With $254.4 billion in unfunded pensions, New Jersey is one of six states with liabilities of more than a quarter of a trillion dollars. It’s up more than 29% from 2024. The Top Five 5. Louisiana Louisiana’s per-capita unpaid pension liabilities are close to $20,000. After New Jersey (20.2% of personal income), unfunded pension obligations were highest in Illinois (19.4%), Hawaii (18.0%), Alaska (16.3%), and New Mexico (15.7%). South Dakota and Wisconsin were the only two states where pension plan savings exceeded the value of what they owed. See more The degree of fiscal challenge these liabilities posed varies depending on the size of a state’s budget, economy, and population. For example, states with faster-growing … See more Unfunded pension liabilities as a share of 50-state personal income increased sharply during the Great Recession and kept growing until it … See more Like public pension liabilities, the cost of unfunded retiree health care benefits promised to public employees is greater than what states owe … See more In 2024, 50-state net tax-supported debt declined for the 10th straight year when measured as a share of personal income even though it jumped by more than $12 billion (2.3%), the … See more haltwhistle property for sale
Pensions in the national accounts, a fuller picture of the UK’s …
WebJul 12, 2024 · Methodology: GOBankingRates analyzed all 50 states in terms of three overarching factors: (1) unfunded pension liabilities for 2016 and 2024; (2) unfunded pension liabilities per capita for 2016 ... WebMar 31, 2024 · As a result, The Pew Charitable Trusts estimates that pension plan assets have risen by more than half a trillion dollars since 2011, leading to a 50-state funded ratio—the share of pension liabilities backed by plan assets—of over 80% and total state pension debt of less than $800 billion at the end of fiscal year 2024. WebDec 11, 2024 · Six other states have over 90% of all pensions funded, yet four states do not have the money to meet even half of their pensions obligations. The funding gap is … burnbrae cattery