An Unsolvable Math Problem: Public Pensions Are Underfunded By As Much As $8 Trillion

http://www.zerohedge.com/news/2016-08-09/public-pension-ponzi-are-public-pensions-short-8-trillion

The Last Laugh: Illinois Pension System Charged For Not Disclosing "Structural Underfunding"

http://www.zerohedge.com/news/2013-03-11/last-laugh-illinois-pension-system-charged-not-disclosing-structural-underfunding

Underfunded Illinois Pension Fund Under Investigation By The SEC For Accounting Fraud

As usual, the comments on Zero Hedge are as entertaining as the articles submitted.

http://www.zerohedge.com/article/underfunded-illinois-pension-fund-under-investigation-sec-accounting-fraud

Illinois pension fund death spiral revisited

http://www.zerohedge.com/article/illinois-pension-fund-death-spiral-revisited-10-years-money-left

This fund is already selling, this year, about $80 million of assets a month. Here's the problem - if you have to sell faster than you thought you have to sell, because you are not getting that state funding, then you sell the liquid stuff - stocks, bonds, and then you are left with private equity, real estate, infrastructure...all of a sudden your portfolio has changed, people are asking questions, it is a major issue.

http://www.youtube.com/watch?v=V3obGLpSKFA&feature=player_embedded