In a year filled with gloomy news of economic hardships and the ongoing pandemic, there’s a bright spot: the funded ratio of the 100 largest U.S. public pensions is up by more than 15 percent this year, according to Milliman’s annual analysis.
“Surging market returns have propelled pension assets far beyond previous levels, driving the estimated funding deficit below $1 trillion for the first time since 2012,” the report says. “We estimate that nearly half of the plans in the study stood above 90 percent funded as of June 30.”
Only 13 public pension plans were above 90 percent funded based on Milliman’s 2020 analysis.
Author(s): Andy Castillo
Publication Date: 28 Oct 2021
Publication Site: American City and County