Article by Cristian Bustos According to a report by the American Legislative Exchange Council (ALEC), unfunded state pension liabilities in the United States total $5.82 trillion, equivalent to more than $17,000 for every person in the United States. This represents a $900 billion increase from the council’s last year report. Q1 2021 hedge fund letters, conferences and more The document surveyed more than 290 state-administered public pension plans, listing assets and liabilities within the 2011-2019 period. Unfunded Liabilities Growing Among 10 Key States In the report, ALEC asserts that the cumulative growth of pension payments is putting enormous pressure on state governments, which have to relocate revenue that otherwise should be destined to essential services like public safety and education or tax relief. Contract and state constitutional laws order state governments to make these pension payments regardless of economic conditions. ALEC’s study has also found that the 10 states with the …
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