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States continue to lose ground in their efforts to cover the long-term costs of their employees pensions and retiree health benefits. In fiscal year 2010, the gap between states assets and their obligations for public sector retirement benefits was $1.38 billion, up almost 9 percent from fiscal year 2009, according to the Pew Center on the States, which identifies solutions to critical issues facing states.
Texas
Texas was a strong performer at managing its long-term liabilities for public pensions, despite failing to pay its full annual pension contribution four times from 2005 to 2010. The state has fallen far short on funding for its retiree health care obligations, according to Pew.
45% to 59%
Wisconsin
WA MT OR ID WY NV CA UT CO NE IA IN KS MO KY TN AR MS LA AK AL GA OH WV VA NC SC SD ND MN MI PA NY
100%
Illinois
45%
ME VT NH
Pensions (2010)
$163.4 billion
MA RI CT NJ DE MD
AZ
NM
OK
Texas
FL
83%
HI
In 2010, Texas paid 82 percent of its required pension contributions and 26 percent of its required retiree health care contribution.
Pensions
Recommended contribution $3.4 billion $2.8 billion Paid Arizona
MA RI CT NJ DE MD
NM
OK
69%
Retiree health care
Recommended contribution $4.5 billion $1.2 billion Paid Alaska
Texas
FL
50%
1.5%
HI
NOTES: Based on fiscal year 2010 data; 2010 data for all states except for Ohio, South Dakota, Virginia and Wisconsin, which are for 2009; Nebraska does not calculate a liability for retiree health benefits