New Jersey, New York, among top states with unfunded liabilities: Report

(The Center Square) — New Jersey has a larger unfunded liability for post-employment benefits other than pensions than any other state, according to a new report.

The report, produced by the American Legislative Exchange Council’s Center for State Fiscal Reform, found that unfunded other post-employment liabilities nationwide have climbed to $1.14 trillion in 2022, averaging $3,000 “for every American man, woman and child.”

New Jersey was ranked worst in the nation with the greatest amount of unfunded OPEB plans of any state in 2022, totaling nearly $175 billion, according to the report. The state’s per capita liability was $19,691.65 in 2022, the report’s authors said. 

New York followed closely behind with more than $133 billion in OPEB liabilities, with a per capita liability of $6,847.42 per resident, according to the report.

Delaware didn’t fare much better in ALEC’s report, with more than $11.7 billion in liabilities, and its small
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