February 19, 2010 Pension Funding Levels
Yesterday the Utah Senate debated the pension reform bills for over 2 hours (watch the debate here: Feb 18 Senate debate), both bills (SB 43 and 63) passed, largely along split party line voting. Interestingly the Pew Center on the States released a great report assessing the financial health of state pensions across the state (see the map image). The report notes that states collectively now have over a trillion (yes trillion) in unfunded pension and health related benefits states have promised to pay. Utah’s system is actually one of the 13 states with a “solid performer” rating. You can read the full report here: The Trillion Dollar Gap, Underfunded State Retirement Systems.
And here are some articles recapping the current reform progress:
Pension limits gain Senate support (SL Trib)