61 U.S. cities have underfunded pensions, Pew reports

01/16/2013 | Los Angeles Times (tiered subscription model)

A Pew Charitable Trusts study says 61 U.S. cities have a collective gap exceeding $217 billion in health and pension obligations that they will owe to retiring employees. Los Angeles is in the best position of these cities to pay for retiree health care costs, having set aside 55% of the funds needed; its pension is 89% funded. In general, most cities had 74% of pensions funded. Charlotte, N.C., was 24% funded.

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