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Hawaii pension debt rises to $12 billion, but the real debt is more like $35 billion [View all]
State lawmakers were in shock this week as Hawaii’s pension debt increased from $8 billion to $12 billion.
Senator Jill Tokouta said, “This is truly overwhelming.”
Colbert Matsumo, Hawaii public pension system board member, said, “This is going to be a big pill to swallow.”
The one day rise in debt has to do with new calculations that are more realistic; the new calculations anticipate lower market returns and longer life spans.
Read more: http://www.hawaiifreepress.com/ArticlesMain/tabid/56/ID/18905/Hawaii-pension-debt-rises-to-12-billion-but-the-real-debt-is-more-like-35-billion.aspx
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