In the United States, estimates of unfunded pension liabilities tops $6 trillion according to the American Legislative Exchange Council. Global estimates are $16 trillion.
Millions of retirees and workers are at risk of losing their pension benefits because their plans are forecasted to become insolvent in the near future.
Many pension funds are missing their annual return target by anywhere from 1 to 2.5%, exacerbating an already acute crisis scenario. This would lead to these retirees receiving just a portion of their expected pension payments.
If unaddressed, this crisis puts the United States on the trajectory toward a systemwide collapse, and the elimination of billions in retirement dollars desperately needed by an aging population.