State public pensions underfunded by $4.1 trillion

Decades of mismanagement and willful ignorance have led to state public pensions being so underfunded that it is not possible pensioners will receive what they are due. State Budget Solutions brings the grim news.

Comprehensive research into the funded status of state level defined benefit public pension plans reveals that public employee retirement promises are underfunded by $4.1 trillion. Combined, state public pension plans are just 39 percent funded.