States face $1.26 trillion shortfall in funds to pay retiree benefits
• Washington PostThe state funds that pay pension and health-care benefits to retired teachers, corrections officers and millions of other public workers faced a cumulative shortfall of at least $1.26 trillion at the end of fiscal 2009, according to a new report.
http://www.nytimes.com/2011/04/26/us/26pensions.html?hp&gwh=F229DE6E2DE9C6A05B645D2DE09AD29C