Tag: Governmental Accounting Standards Board
![Scavenger,(local,Government,Staff),Sweeping,Leaves,On,Ground,With,Brick](https://crr.bc.edu/wp-content/uploads/2022/11/state_and_local_pensions_7-1536x1024.jpg)
The brief’s key findings are: A new government accounting standard requires state and local pension plans to categorize assets based on the method used to determine the fair market value. Level 1 includes frequently traded assets like equities. Level 2 includes less liquid assets like corporate bonds. Level 3 involves appraisals like real estate. For…
![Female crossing guard leads children safely across street](https://crr.bc.edu/wp-content/uploads/2022/11/state_and_local_pensions_5-1536x1024.jpg)
Despite dire predictions from Illinois and New Jersey, the funded status of public plans as a group increased from 72 to 74 percent. The Center for Retirement Research at Boston College just released a 2014 update of the funded status of the 150 state and local plans in the Public Plans Database. For the first…