The Funding of State and Local Pensions: 2013-2017

The researchers at the Center for Retirement Research at Boston College released a brand new brief today detailing the funding levels of 150 pension funds across the country. There are some surprises, and, as always, plenty of insights. From the CRR:
  • Despite a strong stock market, the funded status of public plans in 2013 remained unchanged at 72 percent for two reasons:
    • actuarially smoothed assets grew modestly; and
    • CalPERS, one of the nation’s largest plans, significantly revised its reported funded ratio.
  • An encouraging sign is that sponsors appear to be paying a larger share of their annual required contribution.
  • Going forward, the funded ratio is projected to gradually move above 80 percent, assuming historical stock market returns.

 

Be sure to read the full report here.

 

Photo by Eric Fischer via Flickr CC

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