From Governing.com
''State pension systems suffered a significant blow during the recession,
but it didn’t hit all systems equally; some fared much worse than
others.
A study
by investment research firm Morningstar, Inc., published earlier this
week assesses the financial health of each state system, highlighting a
wide disparity in the actuarial adequacy of funding levels.
An alarming number of funds face a steep uphill climb in fully funding
their plans. The report found 21 states’ aggregate funded ratios fell
below 70 percent, which Morningstar considers the threshold for
“fiscally sound” systems. Illinois (43.4 percent), Kentucky (50.5
percent) and Connecticut (53.4 percent) registered the lowest funding
levels of all examined.''
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