What's $300 billion between friends?
Reuters reports that a new actuarial study by Milliman has taken another look at the funding status of America's 100 largest public pension plans, and earlier estimates likely understated the unfunded status by at least $300 billion.
All totaled, Milliman suggests, the deficit is probably closer to $1.2 trillion. The earlier numbers, the firm says, were based on a median funding level of 75.1 percent; Milliman's more forensic look at the numbers, using different standards to gauge liabilities and assets, puts the median funded level at 67.8 percent.
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