US - West Virginia governor Joe Manchin has set aside over US$700m for the ailing Teachers Retirement System, which currently has unfunded liabilities of more than $5bn.
As part of his 2007 budget, Manchin dedicated $384.5m on top of the originally scheduled debt payment of $333.9m, a move expected to save state taxpayers approximately $651m in interest payments du...
To continue reading this article...
Join Professional Pensions
- Unlimited access to real-time news, analysis and opinion from the industry
- Receive our in-depth monthly magazine in either print or digital format
- Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
- Receive important and breaking news stories selected by the Editors in our daily newsletter
- Hear from industry experts and other forward-thinking leaders
- Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date