The Center for State & Local Government Excellence, together with the Center for Retirement Research at Boston College, published a brief on the funded status of local and state public pension plans.
“Public pension plans are a key component of the fiscal health of state and local governments, holding just over $4 trillion in assets for 20 million active and retired public sector employees,” the brief reads. “The aggregate funded ratio for state and local pension plans – i.e., the ratio of assets to liabilities – increased sharply in the 1990s on the back of a booming stock market, declined steadily from 2001 to 2011 as plans struggled through two financial downturns, and has remained relatively steady since 2012.”
Read the full brief at SLGE.org.
This article quotes selections from “Update on the Funded Status of State and Local Pension Plans – FY 2018” published by SLGE.org in October 2019.