02/18/2010 - These are tough times for state governments, many of which are contending with huge budget deficits.
Many states are likely to face an especially daunting challenge in the years ahead, according to a report issued Thursday. The states have promised big pension and retirement benefits to their employees without putting aside money to pay for them.
The report was prepared by the Pew Center on the States, and it portrays a state pension system that's headed for a crisis — if it's not already there.
Listen to Study: States Must Fill $1 Trillion Pension Gap on National Public Radio's Web site.