The Funding of State and Local Pensions: 2011-2015

Source: Alicia H. Munnell, Jean-Pierre Aubry, Joshua Hurwitz, Madeline Medenica and Laura Quinby, Center for Retirement Research at Boston College, SLP#24, May 2012

From the summary:
The brief’s key findings are:
– During 2011, the funded status of public plans slipped from 76 percent to 75 percent.
– This decline reflected slow asset growth due to actuarial smoothing, which was partly mitigated by an unexpected reduction in liability growth.
– Going forward, the funded ratio is projected to remain steady next year and then gradually improve as the market meltdown is phased out of the calculations.

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