The funding of state and local pensions in 2010

Munnell, Alicia Haydock, Jean-Pierre Aubry, Josh Hurwitz, Madeline Medenica, and Laura Quinby. “The funding of state and local pensions in 2010”. State and Local Pension Plans 17, Chestnut Hill, Mass.: Center for Retirement Research at Boston College, May 2011. http://hdl.handle.net/2345/bc-ir:104205.
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Abstract

The brief's key findings are: (1) During 2010, the funded status of public plans fell from 79 percent to 77 percent. (2) This decline was primarily due to slow growth in assets, which reflects smoothing of market gains and losses over a 5-year period. (3) The comparable figures discounting liabilities by the riskless rate are 53 percent to 51 percent. (4) Going forward, the outlook for pension funding is mixed. (4a) States and localities have been falling short on required pension payments. (4b) But they have been trimming payrolls, reducing benefits for new hires, and raising contributions. (4c) And the impact of the financial crisis on asset values will gradually fade.

Title
The funding of state and local pensions in 2010
Author
Munnell, Alicia Haydock
Aubry, Jean-Pierre
Hurwitz, Josh
Medenica, Madeline
Quinby, Laura
School
Carroll School of Management
Discipline
Finance
Center
Center for Retirement Research
Genre
report
Date Issued
May 2011
Publisher
Center for Retirement Research at Boston College
Series Title
State and Local Pension Plans
Series Number
17
Version Identification
Version of record.
Persistent Link
http://hdl.handle.net/2345/bc-ir:104205
Use Restrictions
These materials are made available for use in research, teaching and private study, pursuant to U.S. Copyright Law. The user must assume full responsibility for any use of the materials, including but not limited to, infringement of copyright and publication rights of reproduced materials. Any materials used for academic research or otherwise should be fully credited with the source. The publisher or original authors may retain copyright to the materials.
Subject
State and local pensions

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