It was basically an idea to help bail out these unfunded liabilities.
Northwest's three pension plans have an unfunded liability of $3.8 billion.
He said that the current unfunded liability was about $500 million.
All they thought about was: 'This is another unfunded liability.
Estimates of the unfunded liability for workers who have not yet retired range from $98 billion to more than $2 trillion.
If no changes had been made, the unfunded liability would have been $378 million by 2013.
Taking advantage of lower interest rates, the state borrowed the money at 7.6 percent and paid off the unfunded liability.
Those unfunded liabilities, which stood at $800 million three years ago, are now $4.2 billion.
But changes that the Whitman administration made to the pension system in 1994 increased the unfunded liability.
We have enough debt at the national level and even more unfunded liabilities.