Public employees pension plans underfunded

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Eleven of 12 pension plans covering Minnesota government workers don't have enough money coming in to pay out benefits that have been promised.

The Associated Press reports that the gap has grown. When state legislators tried to shore up the problem in 2010, the deficit was put at $12 billion. Today, according to the Legislative Commission on Pensions and Retirement, the funds are underfunded by more than $16 billion. The legislature will consider remedies during this session.

The plans pay for retirement for more than 729,000 current and retired state and local public employees.

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