Tag: public pension funds
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…
The brief’s key findings are: Pension plans set target asset allocations, but allow actual allocations to vary within range of the targets. From 2001-2017, target allocations shifted away from traditional stocks and bonds and toward alternatives. As a result, many plans were net sellers of equities during the financial crisis, which locked in losses and…
