Most state and local pension funds are underfunded.

Name: Most state and local pension funds are underfunded.
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According to various reports and studies, most state and local pension funds are underfunded, meaning they do not have enough money to cover their long-term obligations to retirees. This is a significant concern for both pensioners and taxpayers who may ultimately have to foot the bill for these funds.

Most State and Local Pension Funds Are Underfunded