Minnesota state pension plans underfunded by more than $16 billion
Minnesota’s public pension plans for government employees are underfunded by $16.7 billion — a deficit that’s $4 billion larger than it was when lawmakers took steps to fix the problem in 2010.
“Minnesota has been pretty responsible,” said Rep. Phyllis Kahn, DFL-Minneapolis, recently reappointed to the Legislative Commission on Pensions and Retirement. “We’ve always sort of stepped up. Maybe we haven’t made things perfect, but we’ve always started to make things better.”