Tag: GASB
The actuarial community seems awash with studies and reports about how actuaries could provide more guidance with respect to the funding of public pension plans. This activity is driven by the drop in funded levels in the wake of two financial crises, the budgetary pressures faced by plan sponsors, and the increased scrutiny of underfunded…
The brief’s key findings are: During 2012, using current GASB standards, the funded status of public plans declined slightly from 75 percent to 73 percent. This decline reflected slow asset growth, which was only partly mitigated by reduced liability growth. States and localities also continued to fall short on their annual required contribution payments. Going…