The unfunded liabilities of the Massachusetts public pension system grew last year and reforms to ease the burdens had almost no effect, according to a study by a nonprofit group.
State and municipal retirement funds in Massachusetts had $146 billion in unfunded liabilities at the end of 2012, the study by the Massachusetts Taxpayer Foundation said. With $63 billion on hand, that leaves a gap of $83 billion.
Reform measures to lower benefits owed new workers were passed by the state legislature in 2011 and took effect in April 2012. They included raising the retirement age from 55 to 60. The expected savings were projected to be $5 billion over 30 years. The study said the saving this year totaled $500,000 in the fund for state workers.
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