Many state-run retirement systems face significant shortfalls between the pension benefits that governments promised to their workers and the funding available to meet those obligations.
Some pension plans for state and local workers are well-funded, but unless changes are made in a number of other states, retirees, workers, and taxpayers will have to contend with rising costs and potentially unpaid promises for years to come.
Since The Pew Charitable Trusts first evaluated the fiscal health of states’ public sector pension systems in 2007, these retirement plans have varied widely, both across states and year over year, in their ability to cover the costs of promised benefits with the assets they had on hand. But in 2020, pension systems, collectively, met a crucial benchmark for minimum plan funding for the first time since 2001. As a result, states are now positioned to sustainably fund their pension promises for the long run—if they make smart policy choices to seize this opportunity.
Additional Resources
Related Experts
Greg Mennis
Principal Officer
Public Sector Retirement Systems
Sign Up
Exclusive state-policy research, infographics, and stats every two weeks.
Sign Up
Receive our best conservation research bi-weekly—stunning photos, wins, and action alerts.
Sign Up
Exclusive state-policy research, infographics, and stats every two weeks.
How does broadband internet reach our homes, phones, and tablets? What kind of infrastructure connects us all together? What are the major barriers to broadband access for American communities?
