Finances of Many State and Local Government Pension Programs Are

Finances of many state and local government pension programs are a problem because

A) Pension managers used an interest or discount rate that was too low when determining the amount of money to be set aside each year to cover future benefits.
B) State and local governments improperly diverted public revenues into pension funds to garner political support from government employees.
C) Many state and local governments made inadequate contributions into the pension funds to support promised future benefits.
D) States assumed the obligations of local pension programs.