UNDERFUNDED PENSIONS STRIKE CLOSE TO HOME:

At least two county leaders say a tax increase could be on the table to make up for a shortfall totaling $11 million to $13.7 million in Knox County’s three pension plans. The mayor’s office and the school board must come up with millions to make up the shortfalls in putting together their budgets for fiscal 2010, which starts July 1. . . . Assets in the sheriff’s plan fell from $98 million on Jan. 1, 2008, to $70 million as of Nov. 30; school system pension assets fell from $83.3 million to $54.7 million in the same period; and assets in the Knox County Retirement Plan fell from $79.2 million to $50.6 million.

Great.