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Ratings Agencies Express Concern Over Maryland Pension Debt, But Uphold Rating

The major ratings agencies all upheld Maryland’s AAA bond rating this week. But all three agencies expressed concern over the state’s pension debt. S&P in particular warned that pension liabilities, if not addressed, could lead to a rating downgrade in the future. From the Maryland Reporter: Fitch Ratings and Moody’s Investor Services call ...
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CalPERS Funding Ratio Jumps to 77 Percent On Back of Investment Gains

CalPERS revealed on Tuesday that its funding situation had improved in 2014; the system is now 77 percent funded, an increase of 7 percentage points from fiscal year 2012-13. CalPERS attributed the funding increase to investment performance – the fund saw their investments return 18.4 percent last fiscal year. More from the Sacramento Bee: CalPERS ...
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Minneapolis Pension to Merge With State Plan in 2015

The Minneapolis Employees Retirement Fund won’t exist as of January 1, 2015. That’s because the plan is merging with the Minnesota Public Employees Retirement Association (MPERA). Reported by Pensions & Investments: Minnesota PERA already administers the $869 million Minneapolis plan, and its assets are managed by the $80 billion Minnesota ...
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Oklahoma Pension Officials Report Big Improvements in Funding, Liabilities Since 2010

Four years ago, Oklahoma’s state-level pension systems were collectively 58 percent funded. Now, their aggregate funding ratio stands at 74.4 percent, and unfunded liabilities have declined by $6.5 billion. Pension officials reported the figures to state lawmakers on Wednesday during a House hearing. More details from the Associated Press: The improvements ...
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Mississippi PERS Reports Boost in Funding Ratio, Drop in Liabilities

Actuaries for the Mississippi Public Employees Retirement System (PERS) reported during a board meeting Tuesday that the system’s funding ratio had risen from 57.7 percent to 61 percent during the course of fiscal year 2013-14, which ended on June 30. The actuaries also reported that unfunded liabilities had dropped for the first time in at least ...
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Chart: How Did Kentucky’s Pension System Become So Underfunded?

Here’s a chart of the funding situations of Kentucky’s largest public pension funds as of 2012. At 27 percent funded, the KERS non-hazardous fund was considered among the unhealthiest in the country. Since 2012, its funding ratio has dipped even further. But the entire system is experiencing big shortfalls. How did they get this way? Pension360 ...
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Longer Life Expectancy Will Lead to Spike in Liabilities In Near Future

Hundreds of pension funds across the country are struggling to rein in their liabilities, but their funding situations may soon be considered even worse. That’s because an actuarial tweak that takes into account greater life expectancy will increase the liabilities on the books of many plans. From Pensions & Investments: The measured value of ...
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