Tuesday, September 03, 2013

Indiana's Unfunded Pension Liability Tops $43 Billion

In comparison to other states, Indiana's unfunded pension liability for its public employees doesn't look bad. That's not to say the figures are of any less concern. According to the latest data from State Budget Solutions, Indiana has funded just 37% of its total pension liabilities, leaving more than $43 billion of its over $68 billion in liability unfunded. That looks like a bed of roses compared to neighboring Illinois' unfunded pension liability. Illinois has the worst unfunded pension liability problem in the country. It has funded only 24% of its pension liability, leaving a whopping $287 billion in unfunded liability. Nationally, all the states combines have more than $4.1 trillion in unfunded pension liabilities, funding on average just 39% of the total liabilities.


Anonymous said...

It's time for government pensions to end. Cash out all government employees' plans at whatever percentage of retirement cash is on hand (even 43% is still too high); cancel all pension plans, and begin anew with self-funded retirement plans.

Dismantle all state agencies that manage retirement plans, and save further taxpayer dollars.

Anonymous said...

What's crazy is that much of the problems with the Teacher's Retirement Funds Pre 96 account are due to Bayh's incompetence as Governor! Read Dick Cady's Deadline Indianapolis for more on that! Also Mike Pence has shown no leadership on this issue even though the INPRS Board vote recently to screw future retirees! Dont see that holding up though!