WASHINGTON (AP) — A new 50-state study detailing a trillion-dollar shortfall in state public employee pension plans rates Nebraska as a strong performer.
The Pew Center on the States report issued Thursday groups Nebraska among 16 states making good efforts to keep up with pension contributions and for keeping shortfalls manageable.
The report says if states don’t get a handle on the costs now, it will mean bigger problems in the future, including tax increases, cuts in government services or both.
Citing 2008 data, the report says Nebraska had nearly 92 percent of its pension plan funded. It fell short of its contributing obligations by $755 million. By comparison, one of the state’s deemed to have serious concerns, Illinois, fell short more than $54 billion.
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