''The funny thing about pensions is, the promises are easy to make but difficult to execute.
And after a series of big promises and bad investing decisions, 31 of 50 state pensions are grossly underfunded.
That's bad news for some people, or in some cases, all people living in that state. When pension assets don't throw off enough income to pay retirees, the shortfall must come from working taxpayers (via higher taxes) or future generations (via borrowing). The one final alternative is to cut pensioners' benefits"..........see the list here
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