Tag: Public Pension Funding

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Since fiscal year 2019, financial markets have been jostled by a series of unusual events: 1) the onset of COVID; 2) the subsequent COVID stimulus; 3) declining interest rates; 4) rising inflation; and then 5) rising interest rates.  Despite the volatility of asset values over this period, the 2023 funded status of state and loca…

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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…