Spotlight On The Pension Predicament

Law360, New York (April 26, 2011, 12:36 PM EDT) -- Public (municipal, county, school district, state) pension costs are headline news across the country as cities, states and counties acknowledge the extent of unfunded liabilities confronting taxpayers.

States face a $1 trillion budget gap in unfunded pension, health care and other retirement benefits, according to the Pew Center on the States. While states have set aside $2.35 trillion for future retiree benefits as of the end of fiscal year 2008, according to a Pew report, it is far short of the $3.35 trillion needed to fully...
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