The Funding of State and Local Pensions: 2011-2015
May 8, 2012
The brief’s key findings are:
- During 2011, the funded status of public plans slipped from 76 percent to 75 percent.
- This decline reflected slow asset growth due to actuarial smoothing, which was partly mitigated by an unexpected reduction in liability growth.
- Going forward, the funded ratio is projected to remain steady next year and then gradually improve as the market meltdown is phased out of the calculations.
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Citation
Munnell, Alicia H., Jean-Pierre Aubry, Josh Hurwitz, Laura D. Quinby, and Madeline Medenica. 2012. "The Funding of State and Local Pensions: 2011-2015" Issue in Brief 24. Chestnut Hill, MA: Center for Retirement Research at Boston College.
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