CHICAGO – Less than half of state pension plans met Morningstar Inc.’s threshold for healthy status in 2012 with Wisconsin again ranking the strongest and Illinois the weakest, the research company reported in its second annual study of state pensions.

The company for the first time this year included the Commonwealth of Puerto Rico, which, if counted among the states, would displace Illinois at the bottom based on funded ratios. The analysis compared the health of the pension funds based on funded ratios and the total size of unfunded liabilities on a per capita basis.

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