State pensions are still grossly underfunded

According to the latest report, 

released in June 2019, that 

I was tardy reading:

Remember that stocks have been

in a bull market since March 2009,

so pension investments should be

in great shape !

The top three state pension programs 

(South Dakota, Tennessee, and Wisconsin) 

remain virtually unchanged 

since 2013, hovering around 

100% funded.

But the bottom three state programs

(Illinois, Kentucky, and New Jersey) 

are even  more underfunded, 

dropping from ~50% funding 

in 2013 down to only ~38% in 2017.

The three worst funded state pensions 

have been receiving more money, 

yet are more underfunded. 

According to the report, these states 

“had an average employer contribution 

rate of more than 31% of payroll in 2017

—a 22 percentage point increase since 2007.”

Only eight states 

were at least 

90% funded in 2017, 

while 20 states 

were less than 

two-thirds funded.

The entire system is suffering 

from a widening trillion dollar gap 

between liabilities and assets.

Talk of a taxpayer-funded 

federal bailout is beginning.