State pension funds are awash in red ink: Here's your share

State pension funds are awash in red ink: Here's your share: "State pension funds are awash in red ink: Here's your share"

Mel Evans | AP

Pension protest

Years of underfunding and lackluster investment returns have left state pubic pensions even deeper in the hole — a shortfall taxpayers will eventually have to make up. 

Some states are in much better shape than others, according to the latest data from S&P Global Ratings

In New Jersey, for example, the state has set aside just 38 percent of what it needs to make good on promises to current and future retirees, which leaves a shortfall that works out to $10,648 per person. Wisconsin, on the other hand, has slightly overfunded its public pension plans, which has left it with a small surplus.

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