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Exactly How Underfunded Are Government Pension Plans?
The Atlanta Journal-Constitution Mar. 28, 2011
Georgia says its two largest plans are about 86 percent funded, or roughly $10 billion short, in total. Others disagree. In recent papers, finance professors Joshua Rauh and Robert Novy-Marx estimated that Georgia's pensions are nearly $84 billion short -- part of what they believe to be a $3 trillion nationwide pension deficit threatening the nation's local and state governments.
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