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Pension data, State Budget Solutions report

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State Budget Solutions was "a nonpartisan, 501(c)(3) nonprofit with the mission to change the way state and local governments do business by reforming their approach to budgeting." The organization was launched in 2010. As of 2016, it appeared that State Budget Solutions had been absorbed the American Legislative Exchange Council.[1]

In November 2014 the organization released a research report which used a fair market valuation based on a discount rate of 2.74 percent, to determine the unfunded liabilities of public pension plans. The group concluded that "state public pension plans are underfunded by $4.7 trillion, up from $4.1 trillion in 2013. Overall, the combined plans' funded status has dipped three percentage points to 36%. Split among all Americans, the unfunded liability is over $15,000 per person."[2]

To read the full report, click here.

Pension health metrics from the State Budget Solutions report, fiscal year 2013 (dollars in thousands)
State Assets Market Liability* Funding Ratio Unfunded Liability Unfunded Liability Per Capita Unfunded Liability as % of 2013 Gross State Product
Alabama $29,419,597 $94,436,581 31% $65,016,984 $13,450 34%
Alaska $9,830,274 $39,700,280 25% $29,870,006 $40,639 50%
Arizona $31,866,927 $90,652,039 35% $58,785,112 $8,871 21%
Arkansas $21,504,868 $61,485,975 35% $39,981,107 $13,512 32%
California $476,133,354 $1,230,182,696 39% $754,049,342 $19,671 34%
Colorado $43,148,568 $136,245,697 32% $93,097,129 $17,672 32%
Connecticut $25,765,325 $112,357,458 23% $86,592,133 $24,080 35%
Delaware $8,172,154 $18,287,400 45% $10,115,246 $10,924 16%
Florida $131,680,615 $315,080,836 42% $183,400,221 $9,380 23%
Georgia $70,119,741 $172,429,158 41% $102,309,417 $10,239 23%
Hawaii $12,748,828 $43,428,744 29% $30,679,916 $21,852 41%
Idaho $12,427,219 $28,764,344 43% $16,337,125 $10,135 26%
Illinois $95,040,320 $426,619,820 22% $331,579,500 $25,740 46%
Indiana $27,348,958 $75,343,595 36% $47,994,637 $7,304 15%
Iowa $27,018,839 $66,592,672 41% $39,573,833 $12,807 24%
Kansas $14,562,765 $51,494,605 28% $36,931,840 $12,762 26%
Kentucky $26,011,522 $109,411,647 24% $83,400,125 $18,976 45%
Louisiana $36,292,411 $120,761,745 30% $84,469,334 $18,264 33%
Maine $11,452,000 $27,443,348 42% $15,991,348 $12,042 29%
Maryland $39,561,707 $122,934,555 32% $83,372,848 $14,062 24%
Massachusetts $42,974,758 $147,019,968 29% $104,045,210 $15,545 23%
Michigan $57,209,849 $193,562,650 30% $136,352,801 $13,779 32%
Minnesota $48,822,058 $140,704,151 35% $91,882,093 $16,952 29%
Mississippi $20,928,447 $76,926,497 27% $55,998,050 $18,722 53%
Missouri $50,188,100 $135,964,067 37% $85,775,967 $14,192 31%
Montana $8,285,745 $23,115,583 36% $14,829,838 $14,611 34%
Nebraska $9,581,947 $25,257,965 38% $15,676,018 $8,387 14%
Nevada $29,186,193 $89,093,295 33% $59,907,102 $21,472 45%
New Hampshire $6,112,228 $22,023,284 28% $15,911,056 $12,026 23%
New Jersey $86,122,541 $286,272,593 30% $200,150,052 $22,491 37%
New Mexico $22,459,639 $68,853,905 33% $46,394,266 $22,251 50%
New York $238,027,500 $545,959,988 44% $307,932,488 $15,670 23%
North Carolina $81,198,252 $162,199,270 50% $81,001,018 $8,225 17%
North Dakota $3,570,622 $12,385,498 29% $8,814,876 $12,192 16%
Ohio $152,370,215 $441,974,046 34% $289,603,831 $25,028 51%
Oklahoma $22,608,163 $69,797,055 32% $47,188,892 $12,254 26%
Oregon $49,265,900 $123,486,801 40% $74,220,901 $18,886 34%
Pennsylvania $85,215,151 $267,049,559 32% $181,834,408 $14,235 28%
Rhode Island $7,524,961 $24,409,768 31% $16,884,807 $16,050 32%
South Carolina $29,882,998 $93,293,796 32% $63,410,798 $13,280 35%
South Dakota $8,857,928 $16,894,527 52% $8,036,599 $9,511 17%
Tennessee $36,680,782 $79,109,037 46% $42,428,255 $6,531 15%
Texas $190,832,179 $486,932,011 39% $296,099,832 $11,196 19%
Utah $23,405,396 $57,593,531 41% $34,188,135 $16,350 24%
Vermont $3,468,330 $10,600,652 33% $7,132,322 $11,375 24%
Virginia $53,069,000 $149,498,613 35% $96,429,613 $11,674 21%
Washington $65,644,400 $154,233,284 43% $88,588,884 $12,708 22%
West Virginia $10,432,348 $32,577,230 32% $22,144,882 $11,944 30%
Wisconsin $78,613,000 $117,206,900 67% $38,593,900 $6,720 14%
Wyoming $7,186,844 $18,670,574 38% $11,483,730 $19,698 25%
Totals in the U.S. $2,679,831,466 $7,416,319,293 36% $4,736,487,827 $15,052 29%
Source: American Legislative Exchange Council, "Promises Made, Promises Broken 2014: Unfunded Liabilities Hit $4.7 Trillion"

See also

External links

Footnotes

  1. ↑ State Budget Solutions, "About SBS," archived January 20, 2016
  2. ↑ State Budget Solutions, "Promises Made, Promises Broken 2014: Unfunded Liabilities Hit $4.7 Trillion," by Joe Luppino-Esposito, November 12, 2014
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