Deadly defined benefits

AUGUST 14, 2018 | by Editorial | CALEDONIAN RECORD (VERMONT)

 Editorial, includes “… Vermont’s cost shift (overpromise + underfund) amounts to over $17,000 per resident - the 12th highest burden in the nation (New Hampshire is in better shape, with a $5,900 debt per citizen). Cumulatively the 50 states have amassed a $1.5+ trillion debt as relates to benefits they’ve promised to their public sector retirees. That pales in comparison to the federal government, which carries $100+ trillion in unfunded pension and health-care liabilities. Those figures also are un-published and have to be extrapolated.”

 

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