The state pension plan has $17 billion less than it needs to cover the promises it has made to current and future retirees, according to experts who addressed a state Senate committee Wednesday.
That is up from a $13.4 billion long-term deficit estimated earlier this year.
It would take the state more than 60 years to cover the $17 billion hole if all workers covered by the S.C. Retirement Systems retired at the same time. They won't, of course. But 60 years is twice the length of time recommended by government accounting standards.
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