Michigan’s pension unfunded liability per capita was higher than the “Top Ten” average in 2014. Michigan also had a higher unfunded pension liability than the average of its peer states.
What It Is: State government unfunded pension benefit liability (UAAL) divided by population.
Why It Matters: This measure indicates the burden of unfunded retiree benefits on taxpayers. Payments for high unfunded liabilities may crowd out spending for competing needs, such as infrastructure and education.