Failing US Pension System May Need Govt Bailout to Survive – NewsMax

The bottom three (Illinois, Kentucky, and New Jersey) are even more underfunded, dropping from ~50% funding in 2013 down to only ~38% in 2017. A disturbing fact about the three worst funded state pensions is that they have been receiving more money, yet are more underfunded. According to the report, these states "had an average employer contribution rate of more than 31 percent of payroll in 2017—a 22 percentage point increase since 2007."