"[T]hese 20 counties combined have a population of 29.3 million, constituting 77% of Californians. Their total unfunded pension liability ... is $37.2 billion. Their total unfunded retirement liabilities, ... including pension obligations bonds and unfunded healthcare liabilities, is $72.3 billion. As a percentage, their total funded ratio just for pensions (assets as a percent of liabilities) is 74%. Their total retirement funding percentage, taking into account pensions, healthcare, and pension obligation bonds, is only 60%. This total obligation, $7,369 per household vs. $3,932 if you only include pension funds, is a daunting amount."  MORE >>