Bloomberg reports:
Seven states will run out of money to pay public pensions by 2020. That hasn’t stopped them from hiring new employees.
The seven are Illinois, Connecticut, Indiana, New Jersey, Hawaii, Louisiana and Oklahoma, according to Joshua D. Rauh of the Kellogg School of Management at Northwestern University. Combined, they added 9,700 workers to both state and local government payrolls between December 2007 and April of this year, says the U.S. Bureau of Labor Statistics.
More detail:
Illinois running out of pension-fund assets in 2018; Connecticut, Indiana and New Jersey in 2019; and Hawaii, Louisiana and Oklahoma in 2020.
Do you want to be a long term creditor of these places? You've been warned.
