States of Innovation: Securing Public Pensions

After the Fact · Jan 29, 2021 · 19m

Stat: $1.24 trillion: The 50-state pension funding gap—the shortfall between what all the states have funded and what they actually owed public employee retirees—as of 2018.

Story: Public employees count on pensions when they retire, but most states haven't adequately funded their obligations. As of 2018, the funding gap for all the states totaled $1.24 trillion. Without sustainable funding, the cost of retiree benefits can mean less money is available for schools, roads, or public safety. In this episode, we hear from Greg Mennis, who leads Pew's efforts to help states find innovative…