Here’s the good news: Virginia ranks among the seven “most improved” states in the union measured by the reduction of unfunded pension liabilities between 2009 and 2012, according to data published by the Institute for Truth in Accounting. Here’s the bad news: The commonwealth still has billions of dollars in unfunded pension liabilities.

Have fun compiling your own charts using the Institute’s State Data Lab. Submit the best ones to Bacon’s Rebellion. I’ll publish those that tickle my fancy.

–JAB