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States Pull Back on Pension Payments as Virus Ravages Revenue
Advisor Perspectives Link to more items from this source
Aug. 4, 2020

"Colorado eliminated a $225 million supplemental payment to the state's Public Employees' Retirement System, backing away from a 2018 plan to bolster the pension, which is about 60% funded after suffering from years of inadequate government contributions. South Carolina suspended a statutorily scheduled 1% employer contribution increase for the fiscal year beginning July 1. And New Jersey, which has one of the nation's worst-funded pensions, has deferred a $950 million pension payment until September and Governor Phil Murphy's plan to increase contributions 13% to $4.6 billion is in question."

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