“The public pension and retirement ‘schemes’ are in considerable trouble (as we noted here and here) and now, according to a recent S&P study,private companies are at record levels of pension under-funding. Fiscal 2011 shows that the under-funded level for S&P 500 companies’ defined pensions reached an epic $354.7 billion – an increase of over $100 billion from 2010 and surpassing the 2008 record of $308.4 billion – and OPEB under-funding reached $223.4 billion.”
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