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Exclusive: Study shows $1.2
trillion gap for public pensions

Reuters, by Hilary Russ

Original Article

Posted By:BuckeyeRon, 10/15/2012 11:56:26 AM

The largest 100 public pension funds have around $1.2 trillion of unfunded liabilities, about $300 billion above the nearly $900 billion they reported themselves, according to a new actuarial study to be released on Monday. The pension systems reported a median funding level of 75.1 percent. The study by the actuarial firm Milliman, which used different ways to value assets and measure liabilities, finds an aggregate level of funding of 67.8 percent. But Milliman, one of the world largest actuarial firms took a close look at U.S. public pension funding for the first time, and said the multibillion-dollar difference was

      


Post Reply  

Reply 1 - Posted by: beancounter, 10/15/2012 12:08:59 PM     (No. 8934466)

Wow, the article portrays this as good news because it's only $300 billion more than the pension plans are reporting themselves.

You would need a telescope to spot a silver lining that small.


Reply 2 - Posted by: stablemoney, 10/15/2012 12:24:54 PM     (No. 8934511)

Look's like we need to reduce public pensions. Glad Reuters brought this up.


   

 

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Reply 3 - Posted by: mickturn, 10/15/2012 12:29:05 PM     (No. 8934522)

We are all screwed...promises made are gone.


Reply 4 - Posted by: jgat, 10/15/2012 12:56:52 PM     (No. 8934614)

Better to cut a little now than a lot later. Same as the national debt and probably treated the same. Delay, delay,delay until catastrophe arrives.



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