| | PUERTO RICO HERALD: Danger: Commonwealth Employees Retirement System unfunded by as much as $11 billion (Site not responding. Last check: 2007-11-05) |
 | | According to the 2004 Wilshire Report on State Retirement Systems, based on 2003 data, the Alabama ERS system is 90% funded, the Texas ERS system is 86% funded, the Pennsylvania ERS system is 81%, and the Hawaii ERS is 64% funded. |
 | | The Commonwealth ERS has the lowest capitalization of any state government pension plan in the U.S. Since financing for this actuarial deficit falls on the Commonwealth, it affects the governments credit quality, a situation the credit-rating agencies have been scrutinizing closely. |
 | | Once the system realized it wouldnt be able to sustain the promised benefits, it returned to the original benefits formula, with the exception of police officers and fire fighters. |
| www.puertorico-herald.org /issues2/2005/vol09n28/CBDanger.shtml (5344 words) |