Public pension plans underperformed in 2019 on their projected returns this year, adding to the burden on governments struggling to fund promised benefits to retired workers.
Public plans with more than $1 billion in assets earned a median return of 6.79% for the year ended June 30, the lowest since 2016, according to Wilshire Trust Universe Comparison Service data released Tuesday. Public pension plans underperformed in 2019, according to this data. Public pension plans project a median long-term return of 7.25%, according to data collected by Wilshire Associates in 2018.
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This article quotes selections from “America’s Pension Funds Fell Short in 2019” by Heather Gillers, in The Wall Street Journal, August 7, 2019.