The Pew Charitable Trusts, 08/24/2016
The nation’s state-run retirement systems had a $934 billion gap in fiscal year 2014 between the pension benefits that governments have promised their workers and the funding available to meet those obligations. That represents a $35 billion decrease from the shortfall reported for fiscal 2013. The reduction in pension debt was driven primarily by strong investment results, with public plans in fiscal 2014 averaging a 17 percent rateof return.
The Chicago Tribune, 09/08/2016
If you experienced sticker shock with your latest real estate tax bill, or worry about what’s around the corner with proposed big increases on your water and sewer bills, you ain’t seen nothin’ yet. Chicago’s pension debts are finally starting to gobble the city. Chicagoans have two options: Swallow hard and take the massive increases as a cost of living in this great city, or fight for a better solution.
The Hill, 11/10/2016
From the tiny Citrus Pest Control District in California to the giant Illinois Teachers Retirement System, pension woes have settled in across the nation. This massive and growing disaster – that currently stands at nearly $2 trillion in debt for our country – must be a priority of our next President.
© Center for Pension Integrity 2015-2017