Across the 50 states, the Bloomberg Muni team has collected the government financial statistics and adjudged the most (and least) under-funded pension plans. Wisconsin is least under-funded with a 99.91% funding ratio (beaten by the District of Columbia’s ‘over-funding’ at 106.92%) with Illinois the most under-funded at a measly 40.37% funding ratio… It seems only one choice is left for those far from retirement in Illinois… move!
The funding ratio provides an indication of the financial resources available to meet current and future pension obligations. Percentages were calculated by dividing the actuarial value of plan assets by the projected benefit obligation. Where specific data were missing in the consolidated reported totals, the pension funds were contacted directly.
Via Bloomberg Brief
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via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/uL0963ODZz4/story01.htm Tyler Durden