A new report from State Budget Solutions ranks Connecticut second-worst for pension funding, with only enough set aside to pay for 25 percent of what it owes employees and retirees.
Only Illinois fares worse, with 24 percent funding, according to the nonprofit. Connecticut also has the fourth-highest amount owed per capita, $21,378.
Connecticut has the 12th-largest pension debt compared to the size of the state economy, 33 percent.
These numbers differ from the official estimates – pensions about 50 percent funded – because State Budget Solutions estimates the market value of each state’s liabilities. Actuaries use valuation methods unique to government that minimize costs, especially in the distant future.