12/19/2007 - About 90 percent of state workers get pensions, and the bill is coming due.
According to a new analysis by the Pew Charitable Trusts' Center on the States, states owe employees about $2.73 trillion for pension and health-care costs, much of which is unfunded.
Maryland, which has about 90,000 state employees, is facing a particularly high liability for its health insurance promise, $14.5 billion, compared with the $2.3 billion that Virginia owes its 100,000 employees, according to the report released yesterday. The difference is that Maryland is more generous to its retirees than Virginia is, researchers said.
Read the full article Study Sizes Up States' Substantial Retiree Benefit Costs on The Washington Post Web site.