An Analysis Of Each State's Unfunded Pension Liability

An analysis by State Budget Solutions, a 501(c)(3) non-profit, finds that State pension plans are on average only 39 percent funded. The included table below shows each State's pension numbers.

From State Budget Solutions, "Promises Made, Promises Broken - The Betrayal of Pensioners and Taxpayers" by Cory Eucalitto:

Comprehensive research into the funded status of state level defined benefit public pension plans reveals that public employee retirement promises are underfunded by $4.1 trillion. Combined, state public pension plans are just 39 percent funded.

Figures were drawn from state Fiscal Year 2012 Comprehensive Annual Financial Reports, as well as the Comprehensive Annual Financial Reports and actuarial valuations published by individual plans. In each case, figures were from the most up-to-date valuation available at the time of research. Plans were compiled based on the United States Census Bureau's Annual Survey of Public Pensions and state-level financial reports. Therefore this includes municipal pension funds that are administered by the state.

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State Budget Solutions 50 State Pension Table (all figures except Per Capita in thousands)

Data   Per Capita   Plans

	State	Actuarial Assets	Market Liability	Funded Ratio	Unfunded Liability
	Alabama	$28,136,859	$83,416,289	34%	$55,279,430
	Alaska	$10,257,331	$33,972,931	30%	$23,715,600
	Arizona	$30,716,205	$81,099,672	38%	$50,383,467
	Arkansas	$19,914,988	$55,016,307	36%	$35,101,319
	California	$459,450,490	$1,100,068,950	42%	$640,618,460
	Colorado	$40,915,702	$124,738,616	33%	$83,822,914
	Connecticut	$25,492,957	$102,247,874	25%	$76,754,917
	Delaware	$7,862,654	$16,287,446	48%	$8,424,792
	Florida	$127,891,781	$280,543,392	46%	$152,651,611
	Georgia	$69,392,153	$154,949,799	45%	$85,557,646
	Hawaii	$12,242,500	$39,193,563	31%	$26,951,063
	Idaho	$11,657,299	$25,241,561	46%	$13,584,262
	Illinois	$91,521,686	$378,567,679	24%	$287,045,993
	Indiana	$25,156,363	$68,175,596	37%	$43,019,233
	Iowa	$25,778,883	$59,705,144	43%	$33,926,261
	Kansas	$13,278,490	$46,167,691	29%	$32,889,201
	Kentucky	$26,060,181	$97,225,999	27%	$71,165,818
	Louisiana	$33,578,010	$108,503,089	31%	$74,925,079
	Maine	$11,076,400	$24,761,724	45%	$13,685,324
	Maryland	$37,448,661	$110,513,048	34%	$73,064,387
	Massachusetts	$43,493,039	$132,310,593	33%	$88,817,554
	Michigan	$59,934,079	$178,436,105	34%	$118,502,026
	Minnesota	$47,954,571	$127,349,655	38%	$79,395,084
	Mississippi	$20,429,973	$69,238,316	30%	$48,808,343
	Missouri	$48,699,412	$121,416,557	40%	$72,717,145
	Montana	$7,631,673	$22,633,205	34%	$15,001,532
	Nebraska	$9,058,379	$22,439,823	40%	$13,381,444
	Nevada	$27,466,740	$75,934,905	36%	$48,468,165
	New Hampshire	$5,861,896	$19,751,867	30%	$13,889,971
	New Jersey	$85,938,988	$257,614,702	33%	$171,675,714
	New Mexico	$21,397,284	$64,212,781	33%	$42,815,497
	New York	$230,680,400	$490,756,062	47%	$260,075,662
	North Carolina	$78,403,200	$145,436,340	54%	$67,033,140
	North Dakota	$3,498,700	$10,806,862	32%	$7,308,162
	Ohio	$146,123,868	$433,497,668	34%	$287,373,800
	Oklahoma	$21,469,876	$62,963,724	34%	$41,493,848
	Oregon	$44,943,100	$120,068,763	37%	$75,125,663
	Pennsylvania	$85,323,119	$241,959,100	35%	$156,635,981
	Rhode Island	$7,533,391	$22,540,481	33%	$15,007,090
	South Carolina	$29,555,334	$82,721,841	36%	$53,166,507
	South Dakota	$7,935,490	$15,141,572	52%	$7,206,082
	Tennessee	$36,680,783	$73,328,483	50%	$36,647,700
	Texas	$183,833,884	$427,998,123	43%	$244,164,239
	Utah	$21,369,935	$51,129,687	42%	$29,759,752
	Vermont	$3,335,632	$8,853,162	38%	$5,517,530
	Virginia	$54,473,000	$133,823,921	41%	$79,350,921
	Washington	$60,829,300	$124,883,777	49%	$64,054,477
	West Virginia	$10,220,671	$29,152,505	35%	$18,931,834
	Wisconsin	$78,940,000	$138,707,039	57%	$59,767,039
	Wyoming	$6,609,063	$16,284,767	41%	$9,675,704
	Total	$2,597,454,373	$6,711,788,758	39%	$4,114,334,385

[HT: Newmark's Door]