Wednesday, February 23, 2011

'Crisis' states OH and WI got TOP SCORES for funding their pensions

Yet more evidence that Gov. Walker's "fiscal crisis" either doesn't exist, or doesn't have anything to do with public unions:
"According to the Pew study, Wisconsin had about $77 billion in total pension liabilities in 2008.  But according to that same Pew study, those liabilities were 99.67 percent "funded," giving Wisconsin one of the four-highest of such ratios in the nation.  Other states had funding ratios as low as 54 percent.  For comparison, expert analysts and the Government Accountability Office consider an 80 percent level to be a good benchmark for pension fund stability, while Fitch Ratings considers 70 percent adequate."
So don't let the dishonest media tell you that gutting public unions in Ohio and Wisconsin -- states which both received top scores in the Pew study for funding their pension and non-pension retirement obligations -- is necessary because of their unfunded liabilities! 
By Zach Carter
February 22, 2011 | Huffington Post


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