By: Associated Press
By: Associated Press

SPRINGFIELD, Ill. (AP) -- A study finds government pension systems sank deeper into the red, as the recession took its toll and states spent their scarce dollars elsewhere.

The Pew Center on the States says 34 states failed to reach the commonly accepted level for pension funding in 2010, the latest year for which figures are available. Four states -- Connecticut, Illinois, Kentucky and Rhode Island -- didn't even have 55 percent of the money they'll need in the long run.

The overall gap between assets and future pension costs ballooned to $757 billion.

But the Pew Center said Monday, states are trying to address the problem by cutting benefits or increasing contributions for future employees. Some are trying to cut current workers, although that invites legal challenges.


WBKO.com is happy to provide a forum for commenting and discussion. Please respect and abide by the house rules:

Keep it clean, keep it civil, keep it truthful, stay on topic, be responsible, no links, share your knowledge, and please suggest removal of comments that violate these standards.

powered by Disqus
WBKO 2727 Russellville Road Bowling Green, KY 42101-3976 Phone: 270-781-1313 After Hours Hotline: 270-781-6397 Fax: 270-781-1814
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 159522485 - wbko.com/a?a=159522485
Gray Television, Inc.