New Study Shows Dangerous Debt Facing Public Sector Pensions

Taxpayer funded debt is having an increasing drag on the US economy.  Most of the media attention has been focused on the ramifications of the Federal budget, the trillions in spending and the impending “fiscal cliff”.

A new study released today, however, is sending equally loud alarm bells about state public employee pension funds and the looming crisis there.

Today, State Budget Solutions (SBS), a nonprofit organization advocating for fundamental reform of state finances, released a groundbreaking report on the true scope of the state and local public pension crisis. The SBS analysis found that the average public employee pension plan is only 41 percent funded while total unfunded liabilities as of 2011 are at least $4.6 trillion.

Small businesses must pay attention to these fiscal issues and make sure they are engaged with their local, state and Federal elected officials to voice concerns.  All of us need to tighten our budgets in these dramatic economic times.


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