Home Back Issues July/August 2012 Oregon pension funding better than most

Oregon pension funding better than most

| Print |  Email
Articles - July/August 2012
Monday, July 09, 2012

BY BRANDON SAWYER

A recent Pew Center on the States report found that most states are struggling to meet the long-term costs of their public-employee pensions and retiree health care benefits, largely due to the lingering effects of investments made before the financial crisis. In fiscal year 2010 there was a $1.38 trillion gap between public-sector retirement obligations and assets set aside, a 9% increase from 2009. Oregon fared much better than most states but needs improvement on pension funding. The state had a $60.1 billion long-term liability for retirement plans in 2010 and set aside $8 billion less than was recommended, according to Pew.

Top 10 states for funding of public sector pensions, 2010
Rank 2010 State Public pension liability Percent funded
1 Wisconsin $80.8b 100%
2 (tie) North Carolina $79.6b 96%
2 (tie) South Dakota $7.5b 96%
4 Washington $61.7b 95%
5 New York $156.6b 94%
6 Delaware $7.9b 92%
7 Tennessee $35.2b 90%
8 Oregon $59.3b 87%
9 Wyoming $7.7b 86%
10 Georgia $81.1b 85%


Top 10 states for funding of state retiree health care, 2010
Rank 2010 State Retiree health-care liability Percent funded
1 Arizona $2.3b 69%
2 Alaska $12.4b 50%
3 Wisconsin * $2.5b 38%
4 Ohio * $43.2b 32%
5 Oregon $767.6m 31%
6 North Dakota $162.0m 30%
7 Virginia * $5.9b 26%
8 Utah $510.4m 22%
9 Kentucky $8.8b 15%
10 Colorado $2.2b 14%

SOURCE: Pew Center on the States, 2012

*Data from 2009.

 

More Articles

Shipping News

September 2014
Tuesday, August 26, 2014
BY JENNIFER MARGULIS

In 2012 The Dalles, a city of some 14,400 located 75 miles east of Portland and often seen as the poor cousin to adjacent Hood River, completed a massive project to revitalize its dock.


Read more...

Buyer's Remorse

September 2014
Tuesday, August 26, 2014

Parents and students paying for college today are like homeowners who bought a house just before the housing bubble burst.


Read more...

Fast Food Slows Down

September 2014
Tuesday, August 26, 2014
BY KIM MOORE

The ubiquitous fast-food restaurant may be on the decline.


Read more...

Community colleges and sustainability

Contributed Blogs
Thursday, July 31, 2014
sustainabilityBY MARY SPILDE | OB GUEST CONTRIBUTOR

Faced with the aftermath of the “great recession,” increasing concern about the environment and dwindling family wage jobs, we have some very important choices to make about our future.


Read more...

A Good Leap Forward

September 2014
Wednesday, August 27, 2014
BY AMY MILSHTEIN

Agriculture businesses ramp up to meet international demand as workforce and succession challenges loom.


Read more...

Powerlist: Colleges and Universities

September 2014
Wednesday, August 27, 2014
BY KIM MOORE

A conversation about higher education with the presidents of the University of Oregon and Clackamas Community College, followed by September's powerlist.


Read more...

Interview: Dr. Mark Goulston

Contributed Blogs
Thursday, July 10, 2014
JustListenBY TOM COX | OB BLOGGER

Tom Cox interviews Dr. Mark Goulston, author of Just Listen, Discover the Secret to Getting Through to Absolutely Anyone.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS