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State Retirement Benefits & the Trillion Dollar Gap

State Retirement Benefits & the Trillion Dollar Gap

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Page 1: State Retirement Benefits & the Trillion Dollar Gap

State Retirement Benefits & the Trillion Dollar Gap

Page 2: State Retirement Benefits & the Trillion Dollar Gap

Tracking the fiscal conditions in the states

www.pewcenteronthestates.org

$1 trillion gap

Page 3: State Retirement Benefits & the Trillion Dollar Gap

Tracking the fiscal conditions in the states

www.pewcenteronthestates.org

Laggards in pension funding

Page 4: State Retirement Benefits & the Trillion Dollar Gap

Tracking the fiscal conditions in the states

www.pewcenteronthestates.org

5 percent funded

Twenty states had set aside no money for retiree health care and other benefits

Page 5: State Retirement Benefits & the Trillion Dollar Gap

General fund spending growth over 10 years

Public Assist. Higher Ed. K-12 Total Corrections Transport. Medicaid0%

10%20%30%40%50%60%70%80%90%

9.9

40.9

61.2 63 66.671 77.4

Spending Category

Public Assist. Higher Ed. K-12 Total Corrections Transport. Medicaid

SOURCE: National Association of State Budget Officers

www.pewcenteronthestates.org

Page 6: State Retirement Benefits & the Trillion Dollar Gap

www.pewcenteronthestates.org

Page 7: State Retirement Benefits & the Trillion Dollar Gap

Tracking the fiscal conditions in the states

www.pewcenteronthestates.org

Unfunded pension liabilities, FY2008

Page 8: State Retirement Benefits & the Trillion Dollar Gap

Tracking the fiscal conditions in the states

www.pewcenteronthestates.org

Unfunded pension liabilities, FY2008

Page 9: State Retirement Benefits & the Trillion Dollar Gap

Tracking the fiscal conditions in the states

www.pewcenteronthestates.org

Unfunded pension liabilities, FY2008

Page 10: State Retirement Benefits & the Trillion Dollar Gap

Reforms in pensions

www.pewcenteronthestates.org

Page 11: State Retirement Benefits & the Trillion Dollar Gap

Reforms in pensions

www.pewcenteronthestates.org

Page 12: State Retirement Benefits & the Trillion Dollar Gap

www.PewCenterontheStates.org