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.
Read the full article at http://www.bloomberg.com/news/2014-09-25/largest-u-s-public-pensions-face-2-trillion-gap-moody-s-says.html
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