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 2020 update
 2021 update
 Do all state and local workers receive an annuity in retirement?
 Have localities shifted away from traditional defined benefit plans?
 How has the decline in assumed returns affected plan costs?
 Internal vs. external management for state and local pension plans
 Investment update
 Maintaining target allocations
 Stability in overall pension plan funding masks a growing divide
 What explains differences in public pension returns since 2001?

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