A recent survey that has been published by Moody’s says that state pension funds are $1.3 trillion in the red. There is a growing concern among financial experts that the state pension hole might be even bigger than many people currently think. This article provides a breakdown of each State’s pension deficit. Many State pension systems are under increasing pressure because of grim news in the stock market. State and local government pension systems will need to adapt to the current economic situation. It is important for local officials to carefully manage the pension systems so that people’s retirements can remain secure. Families that rely on State pension systems should also stay informed about current economic news that can impact their pensions.
See William Baldwin, State Pension Funds: As Broke As Ever, Forbes, January 16, 2016.
