US - The US state pension funds have developed gross unfunded actuarial accrued liabilities (UAAL) of nearly $300bn in just four years, a report by Standard & Poor's has found.
While in 2000 state funds had little or no unfunded liabilities, with the exception of certain historically weak plans, the UAAL had rocketed to $284bn by June 30, 2004 - the latest figures availab...
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