Public Pension Underfunding & Governance Failures

Public Pension Watch challenges 85% funded ratio—$1.13T shortfall. Illinois statewide $200B+ unfunded (52% funded). NYCERS pension abuse: 62 members with $200K+ pensions, six-figure pensioners doubled since 2020. California AB 1383 would inflate returns, stick taxpayers with $90K per employee. NYC TRS miscalculated disability pensions. New: Oregon lawmakers seek first comprehensive review of PERS investment strategy in a decade, focusing on private equity transparency and long-term risk.