Future pensions will pinch states; Mo. state pay, fringes are generous

Wednesday, April 12, 2006

Kiplinger's Newsletter predicts that state revenues (generally up this year) will have a shortfall next year and for a decade or more because of "huge pension obligations that will come due as thousands of government workers, take early retirement from long held jobs." By decade's end, state and local governments will be paying retirees $170 billion a year, a 44 percent increase over what they paid in 2004.

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