Atlanta pension liability reaches $532M

The pension plan for a group of 3,000 retired and former Atlanta school employees was about 16 percent funded as of July 1, 2012, according to Atlanta Public Schools' Comprehensive Annual Financial Report for 2013.

The school system’s part of the City of Atlanta General Employees Pension Plan had a $532 million unfunded liability and assets worth about $101 million, said the Dec. 6 report.

Most current Atlanta educators participate in the Teachers Retirement System of Georgia, but 763 active employees, 26 inactive members and 2,253 retirees and beneficiaries are members of the General Employees Pension Plan.