The aggregate funding ratio for U.S. state pension plans decreased by 12.2 percentage points to 62.6% during the first quarter, Wilshire Consulting estimates.
The quarterly change in funding resulted from a 15.7% decrease in asset values and a 0.7% increase in liability values.
The aggregate funding ratio is estimated to have decreased 9.3 percentage points for the 12 months ended March 31.
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This article republishes selections from “Funding ratio for state plans lowest in 30 years – Wilshire” an article by James Comtois for P&I Online, 4/29/2020.