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|Underfunded Teacher Pension Plans: It's Worse Than You Think|
Manhattan Institute for Policy Research
Apr. 15, 2010
Excerpt: The crux of the problem is the gap between assets and liabilities affecting the fifty-nine pension funds that cover most public school teachers in America. Some of these are general state-employee pension funds, while others cover only teachers. Among the findings of our study of these funds: All fifty-nine pension funds studied face shortfalls. California, the most populous state, has the largest unfunded teacher pension liability: almost $100 billion. The worst-funded plan in our sample is West Virginia's, which we estimate to be only 31 percent funded. Five plans are 75 percent funded or better: teacher-dedicated plans in the District of Columbia, New York State and Washington State and state employee retirement systems in North Carolina and Tennessee that include teachers.
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