State pension plans were 84.7% funded at the end of fiscal 2006, with $361 billion in total unfunded pension liabilities, according to a report released today by the Pew Charitable Trusts Center on the States. State pension funds had combined assets of $1.99 trillion and pension liabilities of $2.35 trillion. The report also found that 20 states had funding levels lower than 80%.
The report also looked at other retirement liabilities, mainly health-care costs, for which many state plans havent set aside funding. With those unfunded liabilities added to unfunded pension costs, the total rises to $731 billion. Just six states Arizona, North Dakota, Ohio, Oregon, Utah and Wisconsin had fully funded their non-pension liabilities for the next 30 years.