Munnell, Alicia Haydock, and Jean-Pierre Aubry. “The funding of state and local pensions”. State and Local Pension Plans 50, Chestnut Hill, Mass.: Center for Retirement Research at Boston College, June 2016. http://hdl.handle.net/2345/bc-ir:106994.
Abstract
The briefs key findings are: (1) In 2015, the funded ratio of state and local pensions using traditional accounting rules, with smoothed asset values, rose from 73 percent to 74 percent. (2) The funded ratio using new accounting rules, with market value, declined slightly. (3) Required contributions continued to climb in 2015, but plans also stepped up their payments from 86 percent to 91 percent of the required amount. (4) The funding outlook suggests steady improvement if plans realize expected returns, but a downward drift if returns fall short, as many financial experts predict.