### Question
Can you define what unfunded liability means?


### Answer
**Unfunded liability** is defined as the following in *28 U.S.C. § 377*:

> the estimated excess, determined on an annual basis in accordance with the provisions of section 9503 of title 31, of the present value of all benefits payable from the Judicial Officers’ Retirement Fund over the sum of—


(i) the present value of deductions to be withheld under this section from the future basic pay of bankruptcy judges and magistrate judges

#### Citation:
  - *28 U.S.C. § 377*
  - Heading: **PART I-ORGANIZATION OF COURTS > CHAPTER 17-RESIGNATION AND RETIREMENT OF JUSTICES AND JUDGES**

