a mile off!
Today’s Bangor Daily News carries a Mal Leary story, right side, above the fold, “Retirement system faces big shortfall.” Link when available here.
In the meantime, you can probably write most of the story yourself. Use these words: reeling, doubling, stunning, enormous, surprised.
Update: Link added above.
In their presentation to the Appropriations Committee last week, retirement system officials said the investments by the fund had been hammered by the recession and the drop in the stock market. In the budget for the two years starting July 1, the system is appropriated $436 million. But for budget years 2012 and 2013, the likely need will be between $898 million and $1.078 billion.