Illinois has run a structural deficit for over a decade [as of the date of this paper, October 2011]. The state's unfunded pension obligations are $173 billion, with the fund projected to run out of assets by 2018. Illinois's Other Post Employment Benefits (OPEB)—largely consisting of health...

Rhode Island's state and municipal pension systems face large and growing unfunded pension liabilities. The governor and state treasurer have identified pension reform as a key to stabilizing the state's finances and also to ensuring a sustainable retirement fund for Rhode Island's public...