Colo. treasurer warns of pension funds

POSTED: 09:57 AM MDT Jul 26, 2013 
PUEBLO, Colo. -

Colorado Treasurer Walker Stapleton says the state could face the same bankruptcy problems as Detroit if officials fail to come to grips with unfunded pension obligations.

Stapleton said Thursday taxpayers owe it to public employees to give them a retirement system that will take care of them.
    
According to the Pueblo Chieftain, Stapleton says the Public Employees Retirement Association has $22 billion in unfunded liabilities, which is roughly $15,000 for each taxpayer in Colorado.