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Municipalities, states ring up $3 trillion in unfunded pensions

Today's challenging statistic: According to Moody's Investors Service, state and municipal governments across the nation have racked up a staggering $2 trillion in unfunded pension costs.

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Today’s challenging statistic: According to Moody’s Investors Service, state and municipal governments across the nation have racked up a staggering $2 trillion in unfunded pension costs.

The issue, according to Moody’s (and as reported by Reuters), is the rather severe extent to which local governments are downplaying the issue and understating their pension liabilities.

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