Live in one of these states and the ex-employees will have their hands out very soon. From The Washington Free Beacon:
Unfunded Liabilities of State Public Pensions Top $6 Trillion in 2017
Unfunded liabilities of state public pension plans now tops $6 trillion, an increase of $433 billion from the previous year, according to a report from the American Legislative Exchange Council.
"Unfunded liabilities of public pension plans continue to loom over state governments nationwide," the report states. "Absent significant reforms, unfunded liabilities of state-administered pension plans will continue to grow and threaten the financial security of state retirees and taxpayers alike."
Taxpayers are impacted by this pension crisis since they are the ones funding the wages of government employees. The report notes, however, that all residents are impacted because the funds that go to pensions take away resources from government services such as public safety, education, and roads.
The report finds that state pension liabilities average about $18,676 for every American in the United States. In some states, the liabilities average is much higher. For example, in Alaska, each resident is responsible for $45,689 in pension liability—the highest cost in the nation.
The report (PDF file) is here: UNACCOUNTABLE AND UNAFFORDABLE
Sobering numbers - this is money that was promised by the Unions but the Unions never negotiated from a position of reality and the administrators accepting these deals realized that they would be long gone when the chickens came home to roost. No accountability from either side and us taxpayers are left holding the bag...
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