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Promises with a Price

July 26, 2009

This is a report from 2007 by the PEW Charitable Trusts – Promises with a Price.

What is important is that states were already starting to underfund their pensions – and this was during the BOOMING realestate and stock market bubble.

As noted by the report

In the late 1990s and early 2000s, when half the states’ pension plans were fully funded, many states reacted by increasing benefits.


In the past 10 years, only about a third of the states have consistently contributed the full annual amount their own actuaries said was necessary.

You can only imagine the difference that exists now between the obligations we have promised and the pension fund abilities to pay those promises.

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