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If new legislation is not passed by then, the required contributions will grow even larger.
Even on the current accounting assumptions, American public employers have been paying just four-fifths of the required contributions.
The gap between how much is needed and how much is actually in the funds has grown so big that the state is overwhelmed by the required contributions.
The report called on states to account clearly for the risks they assume and more fully disclose the shortfalls they face, and to develop rules to ensure that the required contributions to the pension funds are paid.
It will reduce wages by making cuts in bonuses and the required contributions for social security.
This finding is indicative of the fact that the poor may not be able to pay the required contributions to the NHIF program.
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One of the fastest-growing expenses in the city's budget is the required contribution to employee benefit plans.
In certain countries, social insurance programs resemble private insurance in that the required contribution levels reflect varying degrees of risk.
The CRR shows that the required contribution rate has more than doubled from 6.7% of payroll in 2001 to 17.6% this year.
One policy that has become common in many countries is the points system, designed to weed out possible immigrants without the right qualifications to make the required contribution to the host country.
The problem is that when the state puts in less than the required contribution, that increases the long-term deficit, which in turn raises the amount the formulas will tell the state to pay in future years.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com