Virginia Unfunded Pension Liabilities Could Triple This Year

If investment returns for Virginia’s pension system come in around negative 6%, the commonwealth’s unfunded liabilities could nearly triple for Fiscal Year 2022, according to a report from the Reason Foundation.

Virginia’s unfunded liabilities for FY2021 were slightly less than $6 billion, but early indicators estimate an average negative 6% return on investments for FY2022. If the commonwealth’s returns are at that rate, its unfunded liabilities would increase to slightly more than $17 billion.

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