Public Pension Funds Solidly Funded, Actively Changing to Adapt to Economic, Political Conditions
June 9, 2011 (SmartPros) The most comprehensive and up-to-date study addressing retirement issues for public pension plans finds state and local pension funds are solidly funded and are adopting substantial organizational and operational changes to ensure their long-term sustainability.
The 2011 NCPERS Public Fund Study, conducted by the National Conference on Public Employee Retirement Systems (NCPERS) and Cobalt Community Research, surveyed no less than 215 public pension funds in March and April. The vast majority – 83 percent – were local pension funds, while the remaining 17 percent were state pension funds. Those funds cover nearly 7.6 million active and retired public employees and have assets exceeding $900 billion.
“The data we collected – the most current data available – tells a strongly positive story,” said Hank Kim Esq., NCPERS Executive Director and Counsel. “Public pensions are experiencing a robust recovery from the Great Recession and are reporting strong investment returns, growing assets and funding levels on track to meet their obligations. And they are actively making structural changes to respond to the current economic, political and social landscape.”
Among the study’s key findings:
The findings announced today represent the final results of the NCPERS study. Partial, preliminary findings were released publicly in late April.2011 SmartPros Ltd. All rights reserved. Source: NCPERS