States face pension fund gap approaching $1T

A new analysis from The Pew Charitable Trusts found state pension funds are nearing a $1 trillion shortfall in what they owe workers in benefits.

The report states years of not setting aside enough money has led to the gap.

"The lesson here is that state and local policymakers cannot count solely on investment returns to close the pension funding gap over the long term," the report said.

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