Tuesday, July 07, 2020
Hawai'i Free Press

Current Articles | Archives

Monday, January 31, 2011
Pension Report puts Hawaii in a Bad Moody
By Grassroot Institute @ 9:19 PM :: 7342 Views :: Energy, Environment

by Malia Hill www.HawaiiSunshine.org

When it comes to the pension situation in Hawaii, all news seems to be bad news. According to a recent article in the Hawaii Reporter, Hawaii ranks among the top 4 states in the nation for debt and pension burden.

This is not exactly the kind of accomplishment that should have us “gunning for number one.”

The ranking comes from a report from Moody’s Investor Service, which has been examining debt and pension liability in the different states as a way to get the clearest look at each state’s total obligations.  Along with Massachusetts and Connecticut, Hawaii leads the country with the highest ratio of bonded debt to personal income as well as having some of the highest long-term debt as a percentage of the state gross domestic product.  The scary numbers:

Long-Term Debt, Pension Liabilities as Percentage of Income

1. Hawaii                                            27.7%

2. Mississippi                                     22.8%

3. Connecticut                                    22.3%

4. New Mexico                                    21.9%

5. Alaska                                            21.6%

Long-Term Debt, Pension Liabilities as Percentage of State GDP

1. Hawaii                                            16.2%

2. Mississippi                                     15.9%

3. Connecticut                                     15.2%

4. West Virginia                                   14.5%

5. Massachusetts                                 14.2%

Source: Moody’s Investors Service

And for more good news, consider that–according to The Institute for Truth in Accounting, Hawaii isn’t meeting its balanced budget obligations because of the unfunded pension and healthcare benefits for state workers.  That shortfall is about $39,600 per taxpayer, and if you’re like me, you don’t exactly have the difference sitting around the house in little sacks with $$ on them.  Not that this will necessarily keep the government from trying to squeeze it out of us anyway.  More gloomy stats:

Long-Term Debt, Pension Liabilities Per Capita

1. Connecticut                  9,366

2. Hawaii                          7,987

3. Massachusetts             7,872

4. New Jersey                   7,198

5. Illinois                           6,692

Source: Moody’s Investors Service

A tiny speck of light in the very dark tunnel: Governor Abercrombie did demonstrate some level of awareness of the problem in his recent State of the State address, promising that modernizing Hawaii’s Employees’ Retirement System will be one of his legislative priorities.  Let’s just hope that it isn’t too little being executed too late.

---30---

Interested in more information about state spending in Hawaii?  Don’t forget to check out www.HawaiiSunshine.org.

RELATED:

 

Links

TEXT "follow HawaiiFreePress" to 40404

Register to Vote

2aHawaii

808 Silent Majority

808 State Update AM940

ABCDEFG Blog

ACA Signups Hawaii

ACCE

ALEC

Alliance Defending Freedom

Aloha Life Advocates

Aloha Pregnancy Care Center

American Council of Trustees and Alumni

American Mothers of Hawaii

AMVETS-Hawaii

AntiPlanner

Antonio Gramsci Reading List

A Place for Women in Waipio

Astronomy Hawaii

Audit The Rail

Ballotpedia Hawaii

Better Hawaii 

Blaisdell Memorial Project

Broken Trust 

Build More Hawaiian Homes Working Group

CAFR Hawaii

Castaway Conservative

Children's Alliance Hawaii

Children's Rights Institute

ChinaTownWatch.com

Christian Homeschoolers of Hawaii

Citizens for Recall

Cliff Slater's Second Opinion

Coffee Break

CSIS Pacific Forum

DAR Hawaii

DeedySupport.com

DVids Hawaii

E Hana Kakou Kelii Akina

E Māua Ola i Moku o Keawe

Farmers For Choice Hawaii

FIRE

Fix Oahu!

Follow the Money Hawaii

Frank in Hawaii

Front Page Magazine

Frontline: The Fixers

Genetic Literacy Project

Get Off Your Butts!

God, Freedom, America

Grassroot Institute

Habele.org

Hawaii Aganst Assisted Suicide

Hawaii Aquarium Fish Report

Hawaii Aviation Preservation Society

Hawaii Catholic TV

Hawaii Christian Coalition

Hawaii Cigar Association

Hawaii Coalition Against Legalized Gambling

Hawaii ConCon Info

Hawaii Credit Union Watch

Hawaii Crime Victims' Rights

Hawaii Crop Improvement Association

Hawaii Debt Clock

Hawaii Defending Marriage

Hawaii Defense Foundation

Hawaii Family Advocates

Hawaii Family Forum

Hawaii Farmers and Ranchers United

Hawaii Farmer's Daughter

Hawaii Federalist Society

Hawaii Federation of Republican Women

Hawaii Firearm Community

Hawaii Fishermen's Alliance

Hawaii Future Project

Hawaii Gathering of Eagles

Hawaii History Blog

Hawaii Homeschool Association

Hawaii Jihadi Trial

Hawaii March for Life

Hawaii Meth Project

Hawaii's Partnership for Appropriate & Compassionate Care

Hawaii Public Charter School Network

Hawaii Rifle Association

Hawaii Right to Life -- Big Island

Hawaii Right to Life -- Oahu

Hawaii Shield Law Coalition

Hawaii Shippers Council

Hawaii Smokers Alliance

Hawaii State Data Lab

Hawaii Together

Heritage Foundation

HI Coalition Against Legalized Gambling

HIEC.Coop 

HiFiCo

Hiram Fong Papers

Homeschool Legal Defense Hawaii

Honolulu Homeless Crisis

Honolulu Navy League

Honolulu Traffic

Horns of Jericho Blog

House Minority Blog

House Republican Caucus YouTube

HPACC

Hump Day Report

I Vote Hawaii

If Hawaii News

Imua TMT

Inouye-Kwock, NYT 1992

Inside the Nature Conservancy

Inverse Condemnation

Investigative Project on Terrorism

Iowa Meets Maui

Jackson v Abercrombie

Jihad Watch

July 4 in Hawaii

Kahle v New Hope

Kakaako Cares

Kau TEA Party

Kauai Co GOP

Keep Hawaii's Heroes

KeyWiki

Land and Power in Hawaii

Legislative Committee Analysis Tool

Lessons in Firearm Education

Lingle Years

Malulani Foundation

Managed Care Matters -- Hawaii

Malama Pregnancy Center of Maui

Mauna Kea Recreational Users Group

MentalIllnessPolicy.org

Middle East Forum--The Legal Project

Mililani Conservatives for Change

Military Home Educators' Network Oahu

Missile Defense Advocacy

MIS Veterans Hawaii

Muslim Brotherhood in America

NAMI Hawaii

NARTH

Natatorium.org

National Christian Foundation Hawaii

National Parents Org Hawaii

National Wind Watch

New Hawaiian

New Zeal

NFIB Hawaii News

No GMO Means No Aloha

Northwest Economic Policy Seminar

Not Dead Yet, Hawaii

Now What I Really Think

NRA-ILA Hawaii

Oahu Alternative Transport

ObamaCare Abortion Hawaii

Obookiah

OHA Lies

Opt Out Today

OurFutureHawaii.com

Pacific Aviation Museum

Patients Rights Council Hawaii

PEACE Hawaii

People vs Machine

Pritchett Cartoons 

Pro-GMO Hawaii

P.U.E.O.

RailRipoff.com

Rental by Owner Awareness Assn

Republican Party -- Hawaii State

Research Institute for Hawaii USA

Rick Hamada Show

RJ Rummel

Robotics Organizing Committee

Save Dillingham Airfield

School Choice in Hawaii

SenatorFong.com

SIFE Remington

SIFE W. Oahu 

Sink the Jones Act

Smart About Marijuana--Hawaii

St Marianne Cope

State Budget Solutions Hawaii

State Policy Network

Statehood for Guam

Tax Foundation of Hawaii

The Harriet Tubman Agenda

The Long War Journal

The Real Hanabusa

Time Out Honolulu

Trustee Akina KWO Columns

Truth About Trade & Technology - Hawaii

UCC Truths

Union Members Know Your Rights

US Tax Foundation Hawaii Info

Valor in the Pacific

VAREP Honolulu

Waagey.org

West Maui Taxpayers Association

What Natalie Thinks

Whole Life Hawaii

Yes2TMT