December 28, 2010

Pension Problem Looms for 2011

Eileen Norcross

Senior Research Fellow

“While the unfunded liability, according to the states is $452 billion, it’s actually closer to $3 trillion, when you get the accounting right,” said Norcross.  “Pensions are as ironclad as contracts and states are going to have to make painful tradeoffs in order to pay them out.”