underfunded pensions

Mark originally wanted a union shop so that J-Con Inc. could do business in neighboring New York and Rhode Island. He contributed toward his employees' pension fund with the carpenters union, along with health benefits and good pay. Little did he know that this would ultimately destroy his business.

Connecticut has the most underfunded pension system in the nation, amassing more than $127.7 billion in liabilities, according to an annual study by the American Legislative Exchange Council.