Governor Lincoln Chafee is promising comprehensive pension reform later this legislative session. It looks like he could have his work cut out for him.
Last year, the Pew Center on the States graded the states' pension system - based, in part, on the funding ratio in each state. Standard accounting practices say a pension fund should be at least 80 percent funded. Rhode Island, at the time of the report, was 61 percent funded.
Here are the Pew rankings. Rhody, as you'll see, is near the bottom:
AZ, AR, DE, FL, GA, ID, ME, MT, NE, NY, NC, OH, SD, TN, UT, WI
AL, CA, IA, MI, MN, MO, NM, ND, OR, PA, TX, VT, VA, WA, WY
AK, CO, CT, HI, IL, IN, KS, KY, LA, MD, MA, MS, NV, NH, NJ, OK, RI, SC, WV