Tag: public pension system
The brief’s key findings are: During 2014, public plans adopted new accounting standards for reporting purposes but continued to use the traditional standards for funding purposes. The traditional funded ratio rose from 72 percent in 2013 to 74 percent in 2014 – the first improvement since the financial crisis. Required contributions continued to climb in…
The brief’s key findings are: Despite a strong stock market, the funded status of public plans in 2013 remained unchanged at 72 percent for two reasons: actuarially smoothed assets grew modestly; and CalPERS, one of the nation’s largest plans, significantly revised its reported funded ratio. An encouraging sign is that sponsors appear to be paying…
