The Funding of State and Local Pensions: 2012-2016
The Funding of State and Local Pensions: 2012-2016 by Alicia H. Munnell, Jean-Pierre Aubry, Josh Hurwitz and Madeline Medenica SLP#32. Boston College, Center for Retirement Research
“The brief’s key findings are:
- During 2012, using current GASB standards, the funded status of public plans declined slightly from 75 percent to 73 percent.
- This decline reflected slow asset growth, which was only partly mitigated by reduced liability growth.
- States and localities also continued to fall short on their annual required contribution payments.
- Going forward, the funded ratio is projected to gradually move above 80 percent, assuming a healthy stock market.”
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