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Municipal and State Pension Hemorrhage Accelerating
State Budget Solutions 
[Opinion] Dec. 3, 2012
"According to the ... U.S. Census Bureau ... more than $1.22 trillion came in to the pension plans and more than $1.29 trillion went out instead of growing to pay guaranteed future benefits. Those promised benefits grew by about $1 trillion over the same period. Worst of all, since Census collected those data pension investments have dropped as the obligations continue to grow, according to quarterly data through June 30. That puts municipal and state governments on a collision course with hidden pension debt ... at more than $5 trillion over the next 30 years."
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