The Funding of State and Local Pensions: 2013-2017

Alicia Munnell, Jean-Pierre Aubry and Mark Cafarelli

State and Local Pension Plans Briefs from Center for Retirement Research

Abstract: The brief’s key findings are: The brief’s key findings are: *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.

Pages: 14 pages
Date: 2014-06
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