Underfunded Pensions.

Underfunded state-sponsored pension plans in the US are a huge problem that no one wants to talk about. The most optimistic estimate of the underfunding is (roughly) $5 trillion. That's trillion with a "T." One suspects that the real number is half again as much, or more.

One of the purposes of Ellisblog is to direct you to the one piece on any given subject that more or less gives you everything you need to know about that subject. What E-blog promises, E-blog delivers! Your one "explains it all" piece on underfunded state-sponsored pension plans is here.

(via David Rosenberg)