discussed in class, which one's General Fund represents the smallest percentage of that city's total budget? CPUBLIC PENSIONS (22 POINTS) 1. (3 points) Defined benefit plans, as are most of the older public pension plans, use 4 basic sources of funding to meet their annual financial obligations. Which of the 4 funding sources would you identify as the most significant problem that these pension funds currently face? Why have you chosen this one? 2. (3) Evidence seems to show that one action, in particular, causes some states to fare better than others regarding their funding of pension plans. What is that action? (2 points) How does a defined benefit plan differ from a defined contribution plan? 4. (11 points) a. (1) Name one state that ranks consistently on more than one list discussed in class) well regarding funding of their public pension future obligations. b.(1) Name one state that consistently (on more than one list discussed in class) ranks badly regarding pension funding. (2) 1. There are a number of estimates regarding how much unfunded pension debt exists in the United States. How much (S) is any one of these estimates? 2 How much (Sor%) of this unfunded pension debt is California's? 2 (2) What are the two biggest public pension funds in California? (1) Approximacy How many car government