U.S. State Pension Funding Gap Up 20 Percent in 2012 – Wilshire

The recovery in the U.S. state pension system suffered a setback in 2012 as the huge funding shortfall in a large swath of state pensions swelled more than 20 percent, interrupting two years of improvement following the devastation of the financial crisis. The shortfall in 109 of the nation's state pension plans, which guarantee retirement for millions of public workers such as police, firefighters, and teachers, rose to $834.2 billion in 2012, up from $690.3 billion the previous year, according to a new report by Wilshire Consulting, a unit of independent investment management firm Wilshire Associates. The report highlights the…

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