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Recession rocks state and local pensions, ‘funding gap’ possible

Ralph Chapoco  |  June 29, 2020

By Ralph Chapoco, includes “… Among the least healthy pensions are Illinois, New Jersey, and Kentucky, whose plans are funded at 38%, 36%, and 34% respectively. … States and local governments are hoping to secure additional funding from H.R. 6800, the stimulus bill passed by the U.S. House May 15. The legislation includes almost $900 billion in federal funding for states and cities, along with a second round of stimulus checks and an extension for expanded unemployment insurance. It passed largely along party lines, and thus far the Republican-controlled Senate has balked at the proposal.”

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