Congressional Budget Office The Underfunding of State and Local Pension Plans http://www.cbo.gov/publication/22042 Congressional Budget Office $2 trillion to $3 trillion was more accurate Congressional Budget Office http://www.cbo.gov/publication/22042 unfunded pension liabilities of roughly $700 billion state and local plans are underfunded The Underfunding of State and Local Pension Plans http://www.cbo.gov/publication/22042 http://www.cbo.gov/publication/22042 unfunded pension liabilities of roughly $700 billion unfunded The Underfunding of State and Local Pension Plans