A blog last week pointed out that there are no severely distressed municipalities in Allegheny County reported to PERC under the terms of Act 44 of 2009, there are plans that are in that level of distress as of their 2015 actuarial report.

So which municipalities are severely distressed (funded ratio of 49% or less) as a result of their pension plans?  The biggest one in the group is Philadelphia, which has a funded ratio of 45%, with $4.8 billion in assets and $10.8 billion in liabilities.  Statewide, the municipalities reporting to PERC, if grouped together as one plan, would be 65% funded.  Remove Philly from the aggregate and the ratio increases to 83%.

Two other big cities in eastern Pennsylvania (Chester and Scranton) are both severely distressed, though Chester just falls below moderate distress at 49%.  Scranton is in bad shape, with what would be the lowest funded ratio in the state, 24%.  No municipalities in southwestern PA (Allegheny, Beaver, Butler, Washington, Westmoreland) reported severely distressed local governments.