News

Third wave of the 2017 FSOS is live!

June 19, 2018

Truth in Accounting has released its findings on the finances of nine additional states as part of our lead-up to the 2017 Financial State of the States report.

States included in TIA’s third early release are Arkansas, California, Colorado, Florida, Georgia, Massachusetts, North Carolina, New Jersey and South Carolina. The analyses are based on the states' respective comprehensive annual financial report for the 2017 fiscal year.

Following is a list with links to the individual state reports as well as some of the main findings.

Arkansas

  • Grade: C
  • Money needed to pay future bills: $2.9 billion
    • Unfunded pension benefits: $3 billion
    • Unfunded retiree health care benefits: $2.3 billion
  • Taxpayer Burden: -$3,600

California

  • Grade: F
  • Money needed to pay future bills: $269.9 billion
    • Unfunded pension benefits: $102.5 billion
    • Unfunded retiree health care benefits: $107 billion
  • Taxpayer Burden: -$22,000

Colorado

  • Grade: D
  • Money needed to pay future bills: $19.3 billion
    • Unfunded pension benefits: $18.3 billion
    • Unfunded retiree health care benefits: $1.1 billion
  • Taxpayer Burden: -$9,800

Florida

  • Grade: C
  • Money needed to pay future bills: $11.6 billion
    • Unfunded pension benefits: $10.9 billion
    • Unfunded retiree health care benefits: $9.3 billion
  • Taxpayer Burden: -$1,800

Georgia

  • Grade: C
  • Money needed to pay future bills: $11.1 billion
    • Unfunded pension benefits: $7.4 billion
    • Unfunded retiree health care benefits: $7.6 billion
  • Taxpayer Burden: -$3,900

Massachusetts

  • Grade: F
  • Money needed to pay future bills: $86.9 billion
    • Unfunded pension benefits: $39.2 billion
    • Unfunded retiree health care benefits: $22.2 billion
  • Taxpayer Burden: -$33,500

North Carolina

  • Grade: D
  • Money needed to pay future bills: $24.3 billion
    • Unfunded pension benefits: $3.8 billion
    • Unfunded retiree health care benefits: $32.8 billion
  • Taxpayer Burden: -$8,100

New Jersey

  • Grade: F
  • Money needed to pay future bills: $195.5 billion
    • Unfunded pension benefits: $103.5 billion
    • Unfunded retiree health care benefits: $72 billion
  • Taxpayer Burden: -$61,400

South Carolina

  • Grade: D
  • Money needed to pay future bills: $26.2 billion
    • Unfunded pension benefits: $14.1 billion
    • Unfunded retiree health care benefits: $13.8 billion
  • Taxpayer Burden: -$18,100
 
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