15 Public Pension Chiefs Whose Funds Are Zooming Towards Collapse

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Worries over the solvency of state public pensions are not a new trend, but the fallout from the financial crisis is making them seem far more prescient.We’ve looked at the worst public pensions from state to state, judging by 2008 levels, and pointed out those with the highest unfunded liabilities.

We’ve ranked them by their actuarial funding ratios, which is the percentage of assets on hand able to cover their liabilities.

This describes how much money each fund has to make its future payouts.

While each fund has a different lifetime, and some may receive more funding down the road, this is useful

Check out 15 public pensions in dire trouble >

New Hampshire Retirement System

2008 Actuarial Funding Ratio: 67.8%

2008 Actuarial Value of Liabilities: $7.8 Billion

2008 Actuarial Value of Assets: $5.3 Billion

2008 Unfunded Actuarial Accrued Liabilities: $2.5 Billion

Head of Fund: Chair of the Board of Trustees Lisa K. Shapiro

Source: Public Fund Survey FY 2008

Picture: NHRS.org

Louisiana SERS

2008 Actuarial Funding Ratio: 67.6%

2008 Actuarial Value of Liabilities: $13.6 Billion

2008 Actuarial Value of Assets: $9.2 Billion

2008 Unfunded Actuarial Accrued Liabilities: $4.4 Billion

Head of Fund: Chair of the Board of Trustees Charles Castille

Source: Public Fund Survey FY 2008

Photo: LASERS Site

Hawaii ERS

2008 Actuarial Funding Ratio: 67.5%

2008 Actuarial Value of Liabilities: $15.7 Billion

2008 Actuarial Value of Assets: $10.6 Billion

2008 Unfunded Actuarial Accrued Liabilities: $5.1 Billion

Head of Fund: Chair of the Board of Trustees Jackie Ferguson - Miyamoto (centre)

Source: Public Fund Survey FY 2008

Picture: Hawaii ERS Website

City of Austin ERS

2008 Actuarial Funding Ratio: 65.9%

2008 Actuarial Value of Liabilities: $2.2 Billion

2008 Actuarial Value of Assets: $1.5 Billion

2008 Unfunded Actuarial Accrued Liabilities: $0.8 Billion

Head of Fund: Chair of the Board of Trustees Elizabeth S. Gonzales

Source: Public Fund Survey FY 2008

Connecticut Teachers

2008 Actuarial Funding Ratio: 63%

2008 Actuarial Value of Liabilities: $18.7 Billion

2008 Actuarial Value of Assets: $11.8 Billion

2008 Unfunded Actuarial Accrued Liabilities: $6.9 Billion

Head of Fund: Commissioner State Board of Education Mark K. McQuillan

Source: Public Fund Survey FY 2008

Photo: Connecticut Public Broadcasting Network

Missouri DOT and Highway Patrol

2008 Actuarial Funding Ratio: 59.1%

2008 Actuarial Value of Liabilities: $3.0 Billion

2008 Actuarial Value of Assets: $1.8 Billion

2008 Unfunded Actuarial Accrued Liabilities: $1.2 Billion

Head of Fund: Chair of the Board of Trustees Roger D. Stottlemyre

Source: Public Fund Survey FY 2008

Photo: MPERS.org

Illinois Universities

2008 Actuarial Funding Ratio: 58.5%

2008 Actuarial Value of Liabilities: $24.9 Billion

2008 Actuarial Value of Assets: $14.6 Billion

2008 Unfunded Actuarial Accrued Liabilities: $10.3 Billion

Head of Fund: Chairwoman Carrie Hightman

Source: Public Fund Survey FY 2008

Picture: SURS.com

Illinois Teachers

2008 Actuarial Funding Ratio: 56%

2008 Actuarial Value of Liabilities: $68.6 Billion

2008 Actuarial Value of Assets: $38.4 Billion

2008 Unfunded Actuarial Accrued Liabilities: $30.2 Billion

Head of Fund: President Christopher A. Koch

Source: Public Fund Survey FY 2008

Picture: trs.illinois.gov

Kentucky ERS

2008 Actuarial Funding Ratio: 54.2%

2008 Actuarial Value of Liabilities: $10.7 Billion

2008 Actuarial Value of Assets: $5.8 Billion

2008 Unfunded Actuarial Accrued Liabilities: $4.9 Billion

Head of Fund: Chair Randy J. Overstreet

Source: Public Fund Survey FY 2008

Picture: Kentucky Retirement System

Rhode Island ERS

2008 Actuarial Funding Ratio: 53.4%

2008 Actuarial Value of Liabilities: $10.6 Billion

2008 Actuarial Value of Assets: $5.7 Billion

2008 Unfunded Actuarial Accrued Liabilities: $4.9 Billion

Head of Fund: Rhode Island General Treasurer Frank T. Caprio

Source: Public Fund Survey FY 2008

Picture: ersri.org

Connecticut SERS

2008 Actuarial Funding Ratio: 53.3%

2008 Actuarial Value of Liabilities: $16.0 Billion

2008 Actuarial Value of Assets: $8.5 Billion

2008 Unfunded Actuarial Accrued Liabilities: $7.5 Billion

Head of Fund: Chairman Peter R. Blum

Source: Public Fund Survey FY 2008

Oklahoma Teachers

2008 Actuarial Funding Ratio: 50.5%

2008 Actuarial Value of Liabilities: $18.3 Billion

2008 Actuarial Value of Assets: $9.3 Billion

2008 Unfunded Actuarial Accrued Liabilities: $9.1 Billion

Head of Fund: James R. Wilbanks, Ph D., Executive Secretary

Source: Public Fund Survey FY 2008

West Virginia Teachers

2008 Actuarial Funding Ratio: 50%

2008 Actuarial Value of Liabilities: $8.3 Billion

2008 Actuarial Value of Assets: $4.1 Billion

2008 Unfunded Actuarial Accrued Liabilities: $4.1 Billion

Head of Fund: Governor Joe Manchin III

Source: Public Fund Survey FY 2008 and The Pew centre

Illinois SERS

2008 Actuarial Funding Ratio: 46.1%

2008 Actuarial Value of Liabilities: $23.8 Billion

2008 Actuarial Value of Assets: $11.0 Billion

2008 Unfunded Actuarial Accrued Liabilities: $12.8 Billion

Head of Fund: Illinois Comptroller and Chairman Daniel W. Hynes

Source: Public Fund Survey FY 2008

Picture: State.IL.US

Indiana Teachers

2008 Actuarial Funding Ratio: 45.1%

2008 Actuarial Value of Liabilities: $18.8 Billion

2008 Actuarial Value of Assets: $8.5 Billion

2008 Unfunded Actuarial Accrued Liabilities: $10.3 Billion

Head of Fund: Governor Mitch Daniels

Source: Public Fund Survey FY 2008

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