According to annual valuation reports, unfunded retirement obligations owed to public workers by state-sponsored pension plans now exceed $1.3 trillion. Most states have seen their pension debt grow, and many are struggling to get back to full funding. Public pension debt passes massive costs on to taxpayers and puts significant pressure on state and local budgets.
Reason Foundation’s State Pension Tracker provides a view of 118 state-managed public pension funds, presenting both historical data and projections for the 2023 fiscal year. The tool covers individual public pension plans and aggregated state pension system totals. Additionally, it functions as a tracker, updating projected results with actual investment returns and unfunded accrued liability (UAL) figures as they become available through public reporting.
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