Report: Unfunded Cost of Retirement Benefits Reaches $1.14 Trillion

New Jersey Capitol

New Jersey, California, New York, Texas and Illinois face a hundred billion plus deficit when it comes to paying for the benefits other than pensions promised to state retirees.

The State of New Jersey’s unfunded liability for post-retirement benefits other than pensions in state health care plans reached $174.9 billion in 2022. That was the highest in the country, according to a report by the American Legislative Exchange Council. The report stated the nationwide costs of state-sponsored post-retirement benefits reached $1.14 trillion in 2022.

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