Pension Funding and Health
http://www.leoff1.net/articles/138/1/Pension-Funding-and-Health/Page1.html
By Jerry Taylor
Published on 02/1/2011
We have had several articles dealing with pension funding and pension health. This document generated by the State Treasurer discusses the issue again.
Recent national news stories about strapped state finances often highlight pension funding as one of the most serious challenges facing state and local governments. Surprising for some, the State of Washington does well in these rankings. The Pew Research Foundation’s recent analysis (The Trillion Dollar Gap, Pew Charitable Trust, 2010) of state pensions ranked Washington fourth in the country for combined funding of its 13 pension programs.
Recent national news stories about strapped state finances often highlight pension funding as one of the most serious challenges facing state and local governments. Surprising for some, the State of Washington does well in these rankings. The Pew Research Foundation’s recent analysis (The Trillion Dollar Gap, Pew Charitable Trust, 2010) of state pensions ranked Washington fourth in the country for combined funding of its 13 pension programs.
In this article the Washington State Treasurer details the status of pension funding and proposes a reform to address the problems in TRS 1 and PERS 1. LEOFF 1, being funded at 125% is one of the healthiest pension systems in the state and is not addressed in the Treasurer’s proposed reform.
None the less, the document is an interesting read as it details the status of the pension and explains that the real problem is the failure of the legislature to fund TRS 1 and PERS 1.
None the less, the document is an interesting read as it details the status of the pension and explains that the real problem is the failure of the legislature to fund TRS 1 and PERS 1.
