Source: September 21, 2015
After declines in funded levels over the past five years, state pensions are beginning to grow again, according to a new report. State pension funding is on the rise after “the best year since the recession,” according to new research from Loop Capital Markets. The firm’s 2015 review of public pension funding found that most state pension plans are gaining ground, with funding levels on average increasing in 2014 compared to the previous year. ….. The median funded level for the 50 states and District of Columbia grew to 71.5%, up from 69% in 2013. The mean funded level in 2014 was 73.1%, compared with 71.9% the year prior. Despite the increases, only Washington, DC, South Dakota, and Wisconsin were found to be fully funded, with five states recording funded levels above 90%. A total of 18 states had funded levels greater than or equal to 80%, an increase from 14 in 2013. ….
Loop Says GASB 25 Data Bodes Well for State Pensions
Source: Paul Burton, Bond Buyer, September 18, 2015