pension analysts predicted that the plan was underfunded to such a degree that it would be insolvent by 2036, leaving private pension funds and individual savings plans to make up the shortfall

The word shortfall means a deficit or something that is needed or required. Shortfall can be used when describing the difference between the money you have and the money you need to buy something. For example if you had å£20 but wanted to buy something for å£30 then you would have a shortfall of å£10.

When Marsha wanted to pay the electric bill, she looked in the money envelope and remembered that she could make up the shortfall by taking money from her piggy bank.

Surplus

Retirement Shortfall

One of the biggest risks to a comfortable retirement is running out of money too soon. This calculator helps you determine your projected shortfall or surplus at retirement. You can also see just how long your current retirement savings will last. If your results project a shortfall, you might need to save more, earn a better rate of return, or possibly delay your retirement.