Salient to Investors:

Moody’s Investors Service said:

  • The 25 largest US public pensions – 40% of the $5.3 trillion in US public pensions – face $2 trillion in unfunded liabilities, showing that investment returns cannot keep up with ballooning obligations and inadequate pension contributions – from 2004 to 2013 an average 7.45% investment return versus the expected 7.65% rate.
  • Liabilities tripled in the 8 years through 2012.
  • Its latest estimations of pension liabilities are higher in every case than those reported by the systems.

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