Every State’s Pension Crisis Ranked – Page 10

Special Report

December 4, 2020 9:00 am

Last Updated: December 4, 2020 11:46 am

Source: SeanPavonePhoto / Getty Images

10. Massachusetts
> Funded ratio: 60.6%
> Total pension shortfall: $36.9 billion shortfall (9th largest)
> Gov’t workers as share of total workforce: 11.2% (5th lowest)
> Avg. annual payout per public retiree: $31,510 (11th highest)

Source: f11photo / Getty Images

9. Colorado
> Funded ratio: 58.8%
> Total pension shortfall: $31.5 billion shortfall (11th largest)
> Gov’t workers as share of total workforce: 14.4% (20th highest)
> Avg. annual payout per public retiree: $34,817 (5th highest)

ALSO READ: The Most Commonly Spoken Foreign Language in Each State

Source: Eric Tessmer / Wikimedia Commons

8. Hawaii
> Funded ratio: 55.5%
> Total pension shortfall: $13.3 billion shortfall (24th smallest)
> Gov’t workers as share of total workforce: 14.0% (24th highest)
> Avg. annual payout per public retiree: $28,627 (12th highest)

Source: Sean Pavone / Getty Images

7. South Carolina
> Funded ratio: 55.1%
> Total pension shortfall: $25.5 billion shortfall (13th largest)
> Gov’t workers as share of total workforce: 15.4% (13th highest)
> Avg. annual payout per public retiree: $21,247 (17th lowest)

Source: f11photo / Getty Images

6. Pennsylvania
> Funded ratio: 54.8%
> Total pension shortfall: $68.8 billion shortfall (5th largest)
> Gov’t workers as share of total workforce: 10.0% (the lowest)
> Avg. annual payout per public retiree: $26,358 (17th highest)

Sponsored: Tips for Investing

A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.

Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.