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The Illinois pension crisis refers to the rising gap between the pension benefits owed to eligible state employees and the amount of funding set aside by the state to make these future pension payments. As of 2020, the size of Illinois' pension obligation is $237B, but the state's pension funds have only $96B available for payouts to retirees.
The state's pension funds are currently underfunded by about $16 billion, Brad Briner said. North Carolina’s pension funds rank either 49th or 50th in investment performance, Briner said.
State pension plans are facing a massive $1.4 trillion funding gap, according to a new analysis from the Pew Charitable Trust. Pension liabilities in all 50 states increased by $295 billion to ...
Ahead of state legislative sessions beginning, financial officers from 15 states sent a letter to their state pension fund fiduciaries urging them to divest from China. Joining with the Federal ...
Since 2001, U.S. statewide pension funds have experienced significant funding challenges due to the recessions of 2001-2002 and 2008-2009. Prior to the Dot-Com Crash, statewide pension funds were over 95.6% funded in the aggregate. In 2002, the funded ratio had declined to 82.1%.
The pensions crisis or pensions timebomb is the predicted difficulty in paying for corporate or government employment retirement pensions in various countries, due to a difference between pension obligations and the resources set aside to fund them.
For decades, state pension funds have relied on the private equity industry to invest retirement savings for teachers, firefighters and other public-sector employees. But in recent years, critics ...
This list of largest pension funds in the United States involves two main groups: ... New York State Common Retirement: $201,263 $201,263 93.7% 7.0% 4