Update: A recent article that comments on where this unfunded mess came from:
Financial sustainability, looking down the road and preparing for the future. You can’t continue to kick the can down the road…
Last year the NASD contribution to the pension fund (PSERS) was over a million dollars*. The red sections in the graph above shows how that amount will have to grow in the upcoming years.
*Source: NASD Audit Report: Fiscal Year Ending 6/30/10 – page 66
Source of graph and for more on PA budget go to:
The Commonwealth Foundation