Yesterday the Pew Center on the States painted a dismal picture of the pension and retiree healthcare programs operated for State workers. States have a mixed record of funding their pension promises with states like Illinois regularly skipping payments and now holding just over 50% of what it needs to pay out while others, including New York, have been conscientious about their payments. Governments may be short changing this healthcare promise because of an impression that pension obligations are more certain, that healthcare could have some wiggle room, says Richard Raphael a group managing director at debt rating firm Fitch. West Virginia state retirees began paying more of their health insurance several years ago, a minimum hike of $750 a year says Ernest Terry, a state retiree from Nitro, West Virginia who’s been fighting to retain benefits. West Virginia is a notoriously low paying state, Terry says, now his former colleagues are taking jobs at the local 7-11 and Wal-Mart to make ends meet. BusinessWeek writers Nanette Byrnes , Patricia O?Connell , Emily Thornton , Matthew Boyle , Michelle Conlin and Diane Brady synthesize insights from the brightest business thinkers, critique the latest management trends, and comment on leaders in the news. read more

Technorati Tags: , state, states, stocks, tiger, virginia, blogging