See 10 cities that have high unfunded pension liabilities, according to a report from Center for State and Local Government Excellence.

Local governments that participate in cost-sharing state employee retirement plans face pressure to manage their pension plan liabilities as a result of Governmental Accounting Standards Board standard 68. The new rule requires municipalities participating in chost-sharing plans to report their share of a state’s net pension liabilities.

The Center for State and Local Government Excellence measured 92 cities that participate in cost-sharing plans that are affected by GASB 68. The center estimates that the following cities will see the largest increase in unfunded liability as a percentage of revenue after GASB 68.

10. Saginaw, Mich.
Unfunded liability as a percentage of revenue: 190%

9. St. Paul, Minn.
Unfunded liability as a percentage of revenue: 199%

8. Cincinnati
Unfunded liability as a percentage of revenue: 216%

7. Las Vegas
Unfunded liability as a percentage of revenue: 234%

6. Billings, Mont.
Unfunded liability as a percentage of revenue: 245%

5. Charleston, W.Va.
Unfunded liability as a percentage of revenue: 261%

4. Newark, N.J.
Unfunded liability as a percentage of revenue: 284%

3. Portland, Ore.
Unfunded liability as a percentage of revenue: 284%

2. Springfield, Mass.
Unfunded liability as a percentage of revenue: 315%

1. Chicago
Unfunded liability as a percentage of revenue: 359%

Source: Pensions & Investments