Oregon pension funding better than most


A recent Pew Center on the States report found that most states are struggling to meet the long-term costs of their public-employee pensions and retiree health care benefits, largely due to the lingering effects of investments made before the financial crisis.

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BY BRANDON SAWYER

A recent Pew Center on the States report found that most states are struggling to meet the long-term costs of their public-employee pensions and retiree health care benefits, largely due to the lingering effects of investments made before the financial crisis. In fiscal year 2010 there was a $1.38 trillion gap between public-sector retirement obligations and assets set aside, a 9% increase from 2009. Oregon fared much better than most states but needs improvement on pension funding. The state had a $60.1 billion long-term liability for retirement plans in 2010 and set aside $8 billion less than was recommended, according to Pew.

Top 10 states for funding of public sector pensions, 2010
Rank 2010StatePublic pension liabilityPercent funded
1Wisconsin$80.8b100%
2 (tie)North Carolina$79.6b96%
2 (tie)South Dakota$7.5b96%
4Washington$61.7b95%
5New York$156.6b94%
6Delaware$7.9b92%
7Tennessee$35.2b90%
8Oregon$59.3b87%
9Wyoming$7.7b86%
10Georgia$81.1b85%
Top 10 states for funding of state retiree health care, 2010
Rank 2010StateRetiree health-care liabilityPercent funded
1Arizona$2.3b69%
2Alaska$12.4b50%
3Wisconsin *$2.5b38%
4Ohio *$43.2b32%
5Oregon$767.6m31%
6North Dakota$162.0m30%
7Virginia *$5.9b26%
8Utah$510.4m22%
9Kentucky$8.8b15%
10Colorado$2.2b14%

SOURCE: Pew Center on the States, 2012

*Data from 2009.




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