The Wall Street Journal reports the Long Bull Market Has Failed to Fix Public Pensions.
"Some of the states allowed themselves to get so underfunded that the higher returns aren't helping them enough," said Michael Cembalest, chairman of market and investment strategy for the asset-management arm of JPMorgan Chase & Co. and the author of an annual study on the financial health of cities and states.
Illinois, New Jersey and Kentucky top the list of states in worst shape on a percentage of revenue basis.
Worst Cities on Percentage Basis
Baton Rouge, LA