Crain's Chicago Business' Greg Hinz reports on a Pew Charitable Trusts study that found that Illinois leads the nation in underfunding its pensions for its employees. They're just 54 percent funded. Plenty of other states fall short--but Illinois can't blame the stock market plunge, the state has been shortchanging its pension responsibilities for years.
As I wrote a few days ago, public employee pension problems will be a major political issue in the years ahead.
Related post:
The coming public employee pension bubble
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