- WND - http://www.wnd.com -

Taxpayers on hook for state-pension liabilities

Posted By -NO AUTHOR- On 09/07/2013 @ 12:23 am In Money,Politics,U.S. | No Comments

(Reason) A new assessment of state pension obligations suggests the problem is even worse than it already appears.

How much worse?

Using a more conservative method of accounting for financial gains in the marketplace, there is a $4.1 trillion gap between assets and liabilities — known as the “unfunded liability” — of all state-level pension systems in the United States, according to State Budget Solutions, a fiscally conservative think tank that deals with tax and spending issues at the state level.

On a per-capita basis, each American would have to fork over about $13,100 to fill that gap and fulfill the promises made to current and retired state workers.


Article printed from WND: http://www.wnd.com

URL to article: http://www.wnd.com/2013/09/taxpayers-on-hook-for-state-pension-liabilities/

© Copyright 1997-2013. All Rights Reserved. WND.com.