By Ted Dabrowski and John Klingner, includes “… What’s most damning about the current system is that the nation’s longest-ever bull market and billions in new taxpayer contributions have done nothing to improve the nation’s worst pension crisis. … In 2009, the state paid $2.7 billion into the pension funds; last year it poured in more than $9.2 billion. Despite that, the state’s funded ratio hasn’t improved at all. It’s been stuck at 40 percent since 2009.”