Despite reducing pension benefits for their public-sector retirees and compelling workers to...

|By:, SA News Editor

Despite reducing pension benefits for their public-sector retirees and compelling workers to make bigger contributions, states have cut just $100B of the $900B funding crater in their pension plans, the WSJ reports. One problem is that assumed investment returns have been reduced because of market volatility, while another is that many states are introducing the changes for new hires only.