The really bad news is that most of these pension funds are assuming an 8% annual return. Bwaaaahhhhaaaaa!!!!
Insert a realistic 4% into those little models and the unfunded liability shoots through the top of this little chart like a rocket ship.
Math is hard. Check out your state. Are you willing to have your state tax rates tripled in order to pay the pensions and healthcare benefits of state government workers? It’s really that simple.
